-
Advertorial
-
FOCUS
-
Guide
-
Lifestyle
-
Tech and Vogue
-
TechandScience
-
CHTF Special
-
Nanshan
-
Futian Today
-
Hit Bravo
-
Special Report
-
Junior Journalist Program
-
World Economy
-
Opinion
-
Diversions
-
Hotels
-
Movies
-
People
-
Person of the week
-
Weekend
-
Photo Highlights
-
Currency Focus
-
Kaleidoscope
-
Tech and Science
-
News Picks
-
Yes Teens
-
Budding Writers
-
Fun
-
Campus
-
Glamour
-
News
-
Digital Paper
-
Food drink
-
Majors_Forum
-
Speak Shenzhen
-
Shopping
-
Business_Markets
-
Restaurants
-
Travel
-
Investment
-
Hotels
-
Yearend Review
-
World
-
Sports
-
Entertainment
-
QINGDAO TODAY
-
In depth
-
Leisure Highlights
-
Markets
-
Business
-
Culture
-
China
-
Shenzhen
-
Important news
在线翻译:
szdaily -> Business -> 
BMW to raise prices of two US-made SUV models in China
    2018-07-31  08:53    Shenzhen Daily

GERMAN carmaker BMW said it is raising the prices of two U.S.-made crossover sport-utility vehicles (SUVs) in China to cope with the additional cost of tariffs on U.S. car imports into the world’s biggest auto market.

In a move that took effect yesterday, BMW said in a statement that it will increase maker-suggested retail prices of the popular, relatively high-margin X5 and X6 SUV models by 4 percent to 7 percent.

The rates of increase suggest that BMW is willing to absorb much of the higher costs stemming from bringing the SUVs to China from its factory in South Carolina, underscoring the fierce competition among luxury car brands in China.

BMW’s move comes after China imposed new tariffs earlier this month on about US$34 billion of U.S. imports, from soybeans and cars to lobsters, as part of a widening trade row.

China, which this year cut tariffs on all automobiles imported into China, slapped an additional 25-percent levy on U.S.-made cars as of July 6. As a result, China now levies a 40-percent import duty on all cars imported from the United States.

“BMW stands for free (trade) but can’t stand still without taking actions to respond to the market changes,” a BMW spokeswoman said.

BMW imports X4, X5 and X6 crossover SUV models from the United States for sale in China where demand for SUVs has been booming. Last year, the German automaker shipped more than 100,000 vehicles from the United States to China.

The company made no reference to pricing of its X4 model.

BMW’s decision to absorb much of the impact of the higher tariffs echoes an earlier move by U.S. carmaker Ford Motor Co., which said it would not increase its prices for now in an effort to sustain its business momentum.

China-based car dealers said that German rival Mercedes Benz, operated by Daimler AG, moderately raised the price in mid-July of its GLE, a sporty midsize SUV produced in the state of Alabama, in China.

Daimler’s chief executive Dieter Zetsche said the carmaker was looking at ways to mitigate the impact of the trade war. This would include a review of whether to shift some U.S. production to China.(SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn