BMW hikes X3 output in China, U.S., mitigating fallout from tariffs
Automotive News | 2019-5-10
FRANKFURT -- BMW has increased production of the X3 crossover in Spartanburg, S.C., as well as in China, a step that reduces exposure to trade tariffs between China and the United States.|
"We have increased production of X3 for the U.S. market," BMW CEO Harald Krueger told analysts on a call to discuss first-quarter results this week.
BMW has started building the X3 in China, ending the need for exports of the vehicle from the United States and increased production in Spartanburg to meet demand from customers in North America, Krueger said.
"We are less sensitive compared to other companies if trade conflicts appear," Krueger said.
U.S. President Donald Trump on Sunday said he would raise tariffs on $200 billion worth of Chinese goods to 25 percent from 10 percent, escalating a trade dispute which has hit profits of global carmakers including BMW.
Entire contents © Crain Communications, Inc.
Use of editorial content without permission is strictly prohibited. All Rights Reserved.