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BMW downplays fears over U.S. tariffs in Trump election win
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BMW downplays fears over U.S. tariffs in Trump election win
Nov 6, 2024 4:02 AM

FRANKFURT, Nov 6 (Reuters) - Potential import tariffs

under a possible U.S. presidency of Donald Trump may even

benefit BMW, the German premium carmaker's CEO said on

Wednesday, pointing to its strong local footprint that includes

its largest plant worldwide.

The group's plant in Spartanburg, South Carolina,

produces more than 1,500 vehicles a day, making it BMW's biggest

factory worldwide and a main exporter to markets including

Germany, China and Britain.

Oliver Zipse, speaking to journalists after presenting

third-quarter results, said BMW may even have "more of an

advantage" if there were tariffs "because we have a very, very

large footprint in the USA".

"In this respect, we shouldn't be too nervous about what

might happen," Zipse said, adding BMW was present at 30

locations across 12 U.S. states.

He said that two-thirds of BMW's vehicle sales in the U.S.

were produced in Spartanburg, adding BMW was committed to

investing further in the site with its more than 11,000

employees.

In the first nine months of 2024, BMW's deliveries in

the United States were down 2.1% at 271,399 vehicles.

The Spartanburg plant alone produced 410,793 vehicles in

2023, of which more than half were exported to 120 countries

worldwide, leaving ample room for BMW to sell more locally

should tariffs be slapped on vehicle imports.

"There's some natural cover-up against possible

tariffs," Zipse said.

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