BMW ‘Made in Africa’ cashes in

From Finance24.com,

Pretoria – High-tech out of Africa is paying off, at least mainly for BMW.

Solely through the label “Made in Africa”, the German-based car manufacturer saves some EUR600 ($770) in each vehicle exported to the United States.

This is made possible by a US promotional programme (The African Growth and Opportunity Act) that lets particular African countries enjoy a tax-free export of their products.

BMW was the very first car manufacturer to grab the opportunity.

Almost half of the 55 555 BMW 3 Series automobiles assembled in South Africa annually are shipped to the US market, equivalent to about one third of all 3 Series car imports there.

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