Volkswagen is working on back-up plans for how its passenger car brand could tackle U.S. tariffs on imports from Mexico, while BMW is preparing to absorb the cost, as the auto industry reels from U.S.

BMW is shielding U.S.dealers and consumers from the financial impact of new tariffs on its Mexico-built models, at least for now.

Buy your BMW 3 Series or 2 Series before May 1. Donald Trump's on-again, off-again tariffs will raise new car prices, but some consumers might not immediately feel the pinch. BMW told its dealers that it will not raise prices on certain vehicles imported into the United States from Mexico until May 1.

German automaker BMW is telling dealers in the U.S. it will absorb the added cost of new tariffs on its imports from Mexico, at least for the next several weeks, a spokesperson for the company said on Wednesday.