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Home / Business / Trade tariffs in China drive up the prices of US-made SUVs X5 and X6

Trade tariffs in China drive up the prices of US-made SUVs X5 and X6



German carmaker BMW said it would raise prices for two US-produced crossover SUVs in China to cover the additional cost of US auto imports to the world's largest auto market.

In a move due to come into effect on Monday, BMW said in a statement on the weekend that it would increase the manufacturer's suggested retail prices of the popular, relatively high-margin X5 and X6 SUV models by 4 percent to 7 percent.

Prices The rise suggests that BMW is prepared to absorb the higher costs of launching the SUVs from its South Carolina plant, underscoring fierce competition among luxury car brands in China.

BMW's Decision Comes After China Introduces New Tariffs Earlier this month, US $ 34 billion was imported, from soybeans and cars to lobsters, as part of a growing retail chain.

Can a weaker Yuan help China cope with the trade war accident?

Beijing charging this annual toll on cars imported to China as of July 6 added an additional 25 percent to US-made cars. As a result, China is now levying an import duty of 40 percent on all cars imported from the United States.

"BMW is free [trade] but can not stand still without taking action to respond to market changes," a BMW spokeswoman said by e-mail.

BMW imports X4, X5 and X6 crossover SUV models from the US for sale in China, where demand for SUV is booming. Last year, the German car manufacturer shipped more than 1

00,000 vehicles from the USA to China.

The company did not refer to the pricing of its X4 model.

BMW's decision to absorb much of the impact of higher tariffs is mirrored by earlier moves by US automaker Ford Motor, which said it would not raise its prices for the time being to sustain its business momentum.

LVMH's revenue rises despite fears of a global trade war in China

China-based car The German rival Mercedes-Benz, which is operated by Daimler, moderately raised its GLE in mid-July, a sporty mid-size SUV in the state Alabama is produced in China.

A Daimler spokeswoman referred Reuters to comments from The Company last week.

Daimler CEO Dieter Zetsche said Thursday the carmaker is looking for ways to mitigate the effects of the trade war. This would include a review of whether some US production should be relocated to China.

Daimler also said last week that its pre-tax profits would fall in 2018 from last year because new Chinese import tariffs would affect sales of Mercedes-Benz SUVs. 19659016] window.fbAsyncInit = function () {
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