Mexican Media Brands
Tariff War Prompts Tesla to Hike Prices 20% in China
Tesla Inc. has raises prices in China on its electric Model S sedan and Model X crossover vehicles by about 20%, according to local media reports.
#economics
Share
Tesla Inc. has raises prices in China on its electric Model S sedan and Model X crossover vehicles by about 20%, according to local media reports.
The hike is in response to China’s decision to raise tariffs on cars from the U.S. to 25%. China launched the tax as part of a package of retaliatory levies after the U.S. implemented 25% tariffs on $34 billion worth of imported Chinese goods on Friday.
Tesla’s increase brings retail prices in China for the cheapest Model S to 840,000 yuan ($127,000) from 710,000 yuan ($107,400) previously, The Nikkei reports.
Last year Tesla sold some 103,000 EVs worldwide, roughly 20,000 of them in China.
RELATED CONTENT
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.