BMW to absorb tariff costs on some Mexican-built models
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FILE PHOTO: A BMW car is assembled during a media tour at the plant of German automaker BMW in San Luis Potosi, Mexico, February 3, 2023. REUTERS/Toya Sarno Jordan/File photo
(Reuters) -German automaker BMW is telling dealers in the U.S. it will absorb the added cost of new tariffs on its imports from Mexico, at least for the next several weeks, a spokesperson for the company said on Wednesday.
The Wall Street Journal first reported the news.
BMW said it would "price protect" certain Mexican-built models that would be subject to tariffs - the 3 Series sedan and 2 Series coupe - until May 1, WSJ reported , citing a message to the company's U.S. dealers.
A spokesperson for the company confirmed the contents of the report.
Previously, a spokesperson for the company told Reuters that about 10% of BMW's U.S. sales are imported from Mexico.
(Reporting by Chandni Shah and Rajveer Singh Pardesi in Bengaluru; Editing by Chris Reese and Tasim Zahid)
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