Europe's auto industry had warned against imposing the tariffs, with German carmakers the most exposed to any counter moves as almost a third of their sales ...
- The European Commission will apply additional duties of up to 38.1% on imported China -made electric cars from July, a move that Beijing is likely to retaliate against.
Retaliatory tariffs on German-made cars could therefore have a disproportionate impact on profit, ODDO BHF analyst Michaël Foundoukidis said, unless they were offset by higher prices.BMW generates nearly a third of unit sales in China but according to its annual report only 13% of those come from imported cars, mainly high-end vehicles.
Localising production has lowered sales of imports from Germany to just 2.5% of its China sales, excluding Porsche, according to its full-year statement. Sales of imported vehicles make up about 4% of Volvo's Chinese sales with a focus on local production.
Imported Cars Electric Cars Joint Venture Retaliatory Tariffs China
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