Reported 19 days ago
BMW's CEO downplayed fears of potential U.S. tariffs that may arise under Donald Trump's presidency, suggesting the company could benefit due to its substantial manufacturing presence in the U.S. Shares for BMW and other major carmakers like Volkswagen and Mercedes-Benz dropped significantly in response to tariff concerns, leading BMW to a four-year stock low amid disappointing third-quarter results. However, CEO Oliver Zipse emphasized that BMW's extensive operations in the U.S. could mitigate impacts from tariffs, with two-thirds of its U.S. sales being produced domestically.
Source: YAHOO