January 15, 2018 / 3:11 PM / in 5 months

BMW optimistic on favorable outcome to NAFTA talks

FRANKFURT (Reuters) - BMW (BMWG.DE) is optimistic Washington’s drive to renegotiate the North American Free Trade Agreement (NAFTA) will result in a deal that benefits the German carmaker, it said on Monday.

A BMW logo is seen on a car at the International Auto Show in Mexico City, Mexico November 23, 2017. REUTERS/Henry Romero

“BMW is supporting free trade on a global basis. The U.S. are our second home. We will continue to invest significant amounts of money in this market and we are optimistic that the NAFTA agreement will be adapted in a very positive way,” finance chief Nicolas Peter said at a round table at the Detroit auto show.

Canada last week welcomed U.S. President Donald Trump’s suggestion that talks to modernize NAFTA could be extended beyond the end-March deadline, a move which might help break a deadlock at the negotiations.

Peter also said BMW group’s unit sales would likely grow between 0 and 5 percent worldwide this year and 5-10 percent in China, thanks to a raft of new models, especially SUVS.

Reporting by Andreas Cremer; Writing by Ludwig Burger; Editing by Mark Potter

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