The past few weeks were plagued by troubling news mostly associated with surging oil prices. Whether it was the fact that gas averaged $4 for the first time nation wide, or that the costs of commodities were also rising, companies were downsizing and of course laying off employees, the reality of a recession happening in the country is still hard to stomach.
But amidst all the economic issues surrounding the nightly news, there is at least still one company that expects brighter times ahead. BMW AG recently announced that it was investing $270 million to expand its U.S. operations. BMW sales chief Ian Robertson added in his statement: "These investments show that we are convinced of the continued long-term growth of the U.S. market despite the difficult economic conditions currently."
Last year, BMW sales in the U.S. climbed by 7.1% as the company sold 336,000 vehicles. The U.S. sales made up around 22% of the company's overall worldwide sales.
More sales mean more BMW car users which also means more clients to service. To be able to cope with the company's growth in the U.S. market, BMW is planning to invest $170 million dollars by the end of the year. The money will be used to build two new parts distribution centers in Pennsylvania and Illonois.
$100 million dollars will be used to expand BMW's U.S. headquarters in Woodcliff lake, NJ. The company predicts that it will be able to employ about 1,000 people in total.
Times may be hard at present, but there are still some groups that see some positive things going in the country.
No comments:
Post a Comment