November 7, 2018 / 2:33 PM / 13 days ago

BMW CFO says to decide on building additional cars in China in coming weeks

FRANKFURT, Nov 7 (Reuters) - BMW will discuss building more cars in China as tariffs between the United States and China hit 2018 earnings to the tune of 300 million euros ($344 million), Chief Financial Officer Nicolas Peter said on Wednesday.

“We will take a final decision in the coming weeks about which model to localise next in China,” Peter said, adding that sales of the X3 offroader have risen since BMW decided to build it in Asia, cutting its reliance on exports from the United States.

BMW this year quietly stopped exporting the X3 from the United States to China amid escalating trade tensions, moving the production footprint of the X3 to a plant in Rosslyn, South Africa and another in Shenyang, China.

BMW currently makes its X3, X4, X5, X6 and X7 sports utility vehicles in Spartanburg, South Caroline but a trade dispute with China has added pressure to move production of volume sellers like the X5 to China. ($1 = 0.8711 euros) (Reporting by Edward Taylor; Editing by Maria Sheahan)

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