FRANKFURT – BMW AG expects a success profit of up to half a billion euros ($ 579 million) next year if the tariffs between the United States and China are maintained. CFO Nicolas Peter told the magazine Automobilwoche, a sister version of Automotive News.
The tariffs between the United States and China have affected the export of crossovers from the American BMW factory in Spartanburg, SC, to China, resulting in sales growth of just under 300 million euros, according to Peter, according to an extract from an article published on 13 October.
"If the tariffs remain in 2019, this could have an impact on the whole year of half a billion euros", Peter added.
In September, BMW lowered its financial support and said that the expected profit before tax would fall this year. He accused the trade war between China and the United States and a price war in the car market.