BMW positive about favorable outcome to NAFTA talks

BMW is positive about Washington’s drive to renegotiate the North American Free Trade Agreement (NAFTA) will lead to a deal that benefits the German automaker, it stated on Monday.

“BMW is supporting free trade on an international basis. The U.S. are our 2nd home. We will continue to invest substantial amounts of cash in this market and we are positive that the NAFTA agreement will be adapted in an extremely positive way,” financing chief Nicolas Peter said at a round table at the Detroit auto show.

Canada last week invited U.S. President Donald Trump’s recommendation that talks to update NAFTA could be extended beyond the end-March due date, a move which might help break a deadlock at the negotiations.

Peter also stated BMW group’s unit sales would likely increase between 0 and 5 percent worldwide this year and 5-10 percent in China, due to a raft of new models, particularly SUVS.