After the announcement last month that BMW was increasing U.S. production while cutting jobs in Germany, the CFO of the German automaker, Michael Ganal, told WirtschaftsWoche magazine that the automaker intends to make other significant changes as the dollar continues to depreciate against the euro. As of today, the volume of cars produced in BMW's Spartanburg plant contributes to about 22 percent of the company's overall sales. However, these vehicles only account for about 10 percent of the materials purchased volume. Over the next four years, the Bavarian car company intends to increase its purchases of parts and components from domestic U.S. suppliers, and Ganal hinted that BMW may also increase production to even higher levels than the 240,000 vehicles annually manufactured on our shores. The influx of manufacturing, supply, and administrative jobs (and tax revenue) may be one of the only upsides to the continuing plunge of the dollar.
[Source: Automotive News, subs. req'd]