Nafta talks won't change BMW's plans for Mexico: CEO
Mexico (Notimex) -- German carmaker BMW will not change its investment plans for Mexico despite ongoing talks to renegotiate the North American Free Trade Agreement, Nafta, said the company's CEO for Latin America and the Caribbean, Alexander Wehr.
Launching a new car model or building a new plant takes five to 10 years of planning, which is why everthing BMW does in Mexico is planned for the long-term, Wehr said.
"There may be political or economic changes, where we have to adjust our numbers, but that won't change our strategic decision of investing in Mexico," he added.
"We see a great future, we've already been here more than 20 years, we have a purchasing office that makes some $2.5 billion in acquisitions every year for exports, we are building a plant, we are 100 percent committed to Mexico".
The last two years have been a "boom" for BMW in Mexico, and 2017 already shows 16 percent growth in sales compared to 2016.
Photo: Hermann Bohrer, president and CEO of BMW's plant in San Luís Potosí. Image: Diana Domínguez/Notimex