REUTERS: Germany's automaker BMW AG said on Friday it was the biggest U.S. automotive exporter by value for the fifth consecutive year, with exports totaling over US$8.4 billion in 2018.
The company said it exported 234,689 units of its X model sport utility vehicles and coupes from its Spartanburg, South Carolina, plant during 2018."Despite...the ongoing uncertainty regarding trade and tariffs, plant Spartanburg is still positively contributing to the U.S. balance of trade," said Knudt Flor, president and CEO of BMW Manufacturing Co LLC.
BMW's U.S. export report comes at a time when U.S. President Donald Trump has threatened to saddle imported cars and auto parts with steep tariffs of up to 25 percent. Automakers, however, warn that such tariff on imported cars and parts would add thousands of dollars to vehicle costs and potentially devastate the U.S. economy as auto companies cut jobs to maintain profits.
"The remarkable partnership between BMW and South Carolina continues to thrive, and this is evident by the fact that our state remains the nation's leader in the export sales of completed passenger vehicles," South Carolina Secretary of Commerce Bobby Hitt said.
Source: Car News Wire (carnewswire.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
From Germany to Japan, Trump seeks huge premium from allies hosting US troopsWASHINGTON (BLOOMBERG) - For years, President Donald Trump has complained that countries hosting American troops aren't paying enough. Now he wants to get even, and then some.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Russia's MTS to pay US$850 million in US graft case as Islam Karimov's daughter chargedNEW YORK: US prosecutors Thursday (Mar 8) reached an US$850 million settlement with Russia's leading telecoms firm over huge bribes paid to the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US charges daughter of ex-Uzbekistan leader in near-US$1 billion schemeNEW YORK: The daughter of former Uzbekistan president Islam Karimov was charged Thursday (Mar 7) in New York in connection with a decade-long ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US should not sell F-35 jets to Turkey unless it drops Russian system: US generalWASHINGTON: The top US general in Europe said on Tuesday (Mar 5) that he would recommend that the United States should not sell Lockheed Martin ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US wants to know if Pakistan used US-built F-16 jets to down Indian warplaneISLAMABAD: The United States is 'seeking information' on whether Pakistan used US-built F-16 jets to down an Indian warplane, the US Embassy in ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US: Wall St opens higher on US-China trade deal hopes[NEW YORK] US stocks rose at the open on Monday on rising hopes that the United States and China would end their trade dispute as early as this month. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Daimler, BMW autonomous alliance seeks to define self-driving rulesDaimler and BMW are teaming up to develop autonomous driving technology to cut costs and set an industry standard that can help to shape future ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Wall Street falls at open after weak jobs data, growth concernsREUTERS: U.S. stocks fell at open on Friday after data showed U.S. job growth almost stalled in February, adding to global growth worries sparked ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US House to hold hearing on Sprint, T-mobile proposed mergerU.S. House lawmakers plan to hold a March 12 hearing to review a proposed US$26 billion merger of T-Mobile US Inc and Sprint Corp with the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Huawei slaps US government with lawsuit in bid to overturn federal ban on its gearChinese telecommunications equipment manufacturer Huawei Technologies has filed a lawsuit against the US government in a bid to overturn the US federal ban on its gear, the company said on Thursday in Shenzhen. The lawsuit was filed in the US District Court in Plano, Texas, where Huawei’s US headquarters
Source: YahooSG - 🏆 3. / 71 Read more »