Tesla Increases Model 3 Prices in Europe Due to Tariffs on Chinese-Made EVs
Synopsis
Tesla has raised the prices of its Model 3 vehicles in several European countries, including Germany, the Netherlands, and Spain, by approximately 1,500 euros ($1,622). This price increase is a direct response to new tariffs imposed by the European Union on electric vehicles (EVs) manufactured in China, where Tesla produces its Model 3.
Tesla announced on Wednesday that it has increased the prices of its Model 3 vehicles in European countries such as Germany, the Netherlands, and Spain by about 1,500 euros ($1,622) following the EU's imposition of tariffs on China-made EVs.
Tesla, which manufactures the Model 3 in Shanghai and is the leading exporter of EVs from China, had previously warned in June that it might increase prices due to these tariffs. The European Commission imposed the tariffs on July 4 to counter what it considers an influx of unfairly subsidized EVs from China, a characterization that Beijing disputes.
The provisional tariffs, which could be in place until the Commission decides on final duties by November, range up to 37.6% depending on the manufacturer.
Tesla was categorized as cooperative in the EU's investigation and thus received a 20.8% tariff. However, the company has requested a recalculation of this rate, according to the Commission.
BMW has also asked Brussels to reduce the tariff for its China-made electric Mini, which currently faces the highest duty, to 20.8%.
Tesla has raised the prices of its Model 3 vehicles in several European countries, including Germany, the Netherlands, and Spain, by approximately 1,500 euros ($1,622). This price increase is a direct response to new tariffs imposed by the European Union on electric vehicles (EVs) manufactured in China, where Tesla produces its Model 3.
Tesla announced on Wednesday that it has increased the prices of its Model 3 vehicles in European countries such as Germany, the Netherlands, and Spain by about 1,500 euros ($1,622) following the EU's imposition of tariffs on China-made EVs.
Tesla, which manufactures the Model 3 in Shanghai and is the leading exporter of EVs from China, had previously warned in June that it might increase prices due to these tariffs. The European Commission imposed the tariffs on July 4 to counter what it considers an influx of unfairly subsidized EVs from China, a characterization that Beijing disputes.
The provisional tariffs, which could be in place until the Commission decides on final duties by November, range up to 37.6% depending on the manufacturer.
Tesla was categorized as cooperative in the EU's investigation and thus received a 20.8% tariff. However, the company has requested a recalculation of this rate, according to the Commission.
BMW has also asked Brussels to reduce the tariff for its China-made electric Mini, which currently faces the highest duty, to 20.8%.
