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The European Union will increase tariffs on Chinese EV imports from ~17 to 38% if they come from BYD, Geely or SAIC. The move mirrors the Biden Administration’s imposition of 100% tariffs on Chinese made EVs last month. (AutoInformed on: Chinese EV Trade War Commences)* This is in addition to existing 10% tariffs and take effect on 4 July. Other automakers – many of them European – that are building EVs in China – will see tariffs ranging from 21% or 38% the EU said. Many European companies have factories or joint ventures in China of course. China has said it will retaliate.
“Fair competition is good,” Ursula von der Leyen, European Commission President, recently said. “What we don’t like is when China floods our market with massively subsidized electric cars. And we have to tackle this, we have to protect our industry,” said von der Leyen. Like covid, trade wars with China, which has extremely competitive EV technologies and vehicles, are now a pandemic. The tariffs are subject to revision. And lobbying… Continue reading
Surprising Shifts in the 2024 American-Made Index
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Cars.com™ (NYSE: CARS) today publicly released its 19th annual American-Made Index.** This is an independent look at more than 400 vehicles to create this year’s list of 100 vehicles “contributing most to the U.S. economy in manufacturing, parts sourcing and employment.” When it comes to consumer demand for American-made, 56% of in-market car shoppers are willing to pay more for a vehicle if it creates more U.S. jobs. Of those, 58% claim they are willing to pay at least an extra 10%.3 But 60% of Americans say that products need to be built in the U.S. by a company headquartered here to substantially contribute to the American economy, claims Cars.com. [see footnote 4 below]
“Over the last year, domestic manufacturing was thrust into the spotlight by the recent United Auto Workers organizing efforts and continues to be a hot topic with the impending presidential election,” said Patrick Masterson, lead researcher for Cars.com’s American-Made Index. “Pundits champion homegrown corporations as the key to investments in local and state economies. However, when it comes to the global automotive industry, the badge on the hood doesn’t always reveal a vehicle’s economic contributions. In fact, 66% of vehicles on Cars.com’s 2024 American-Made Index come from foreign automakers that support communities in Alabama, Indiana, Michigan and Ohio.” Continue reading →