The Car and Truck Fleet and Leasing Management Magazine

BMW Chief Says U.S. Presence Strategically Crucial

May 19, 2008

MUNICH, GERMANY– BMW’s chief executive officer told shareholders that maintaining theautomaker’s presence in the South Carolina was not a knee-jerk reaction to the strongeuro but a long-term strategy, according to www.charleston.net. Earlier thisyear, the automaker announced it would take advantage of the weak dollar byexpanding production at its only North American plant, near Spartanburg.

The plancalls for spending $750 million on facilities for its X5 SUV and the new generationof its X3 SUV to boost output from the current 160,000 vehicles a year to240,000 annually by 2012. By building the cars in the United States, BMW also can save money on wages,since its South Carolina workers earn less than German workers.

BMW importedabout 100,000 German-made vehicles through the Port of
Charleston last year and shipped out roughly as many South Carolina-made models.

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