Chinese Carmakers Urge Beijing To Increase Tariffs On EU Gasoline Cars In Retaliation For EV Tariffs: Report
Portfolio Pulse from Benzinga Neuro
Chinese carmakers have urged Beijing to increase tariffs on European gasoline cars in retaliation for the EU's tariffs on Chinese-made electric vehicles. This move could impact several car manufacturers, including BYD, BMW, Volkswagen, and Porsche.
June 19, 2024 | 11:57 am
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NEUTRAL IMPACT
BYD, a major Chinese EV manufacturer, could face increased competition and regulatory challenges due to the EU's tariffs on Chinese EVs and potential retaliatory tariffs by China.
BYD is a significant player in the Chinese EV market and could be directly impacted by the EU's tariffs. However, the company's strong market position and backing by Warren Buffet may help it remain competitive.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
BMW, a major European car manufacturer, could see increased tariffs on its gasoline cars exported to China, potentially affecting its sales and revenues.
BMW exports a significant number of gasoline cars to China. Increased tariffs could negatively impact its sales and revenues in the Chinese market.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Porsche, a luxury car manufacturer, could face increased tariffs on its gasoline cars exported to China, potentially affecting its sales and profitability.
Porsche's luxury gasoline cars could be subject to higher tariffs, which may reduce its sales and profitability in the Chinese market.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Volkswagen, another major European car manufacturer, could be affected by increased tariffs on gasoline cars exported to China, potentially impacting its market share and revenues.
Volkswagen's significant exports to China could be impacted by increased tariffs, potentially reducing its market share and revenues in the region.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70