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☆ Why the European Union's tariffs on Chinese automakers may not work
▼ + stars: | 2024-09-14 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

By the end of October, the European Union will make a final decision on what some analysts call the biggest EU trade case against China in more than a decade. But automakers and countries are divided over whether to place tariffs — so far of up to 36.3% — on Chinese electric vehicles. A German automotive trade association says they would hurt German automakers, which have a significant presence in China. China has been exporting cars to countries all around the globe, and both supporters of tariffs and trade and industry analysts point to China's support for its domestic manufacturers as a rationale for imposing tariffs. Chinese automakers can produce a car for about $5,500, said Felipe Muñoz, senior analyst for JATO Dynamics, while it costs European automakers closer to $20,000.

Persons: William Reinsch, Scholl, Felipe Muñoz, Muñoz, It's Organizations: European Union, China, Business, Center for Strategic, International Studies, JATO Dynamics Locations: European, China, Germany, Washington ,

☆ Chinese automakers overtake U.S. rivals in sales for the first time, report shows
▼ + stars: | 2024-06-14 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Chinese brands, led by Shenzhen-based BYD, sold 13.4 million new vehicles last year, while American brands sold about 11.9 million, the data showed. Japanese brands led with 23.59 million sales. "Negligence from legacy automakers, which has resulted in consistently high car prices, has inadvertently driven consumers toward more affordable Chinese alternatives," Jato senior analyst Felipe Munoz said in the report. Brands from China have made particular inroads in emerging economies, where Jato said one in five new car sales were made last year amid increased global demand. That is more than the total sales in the U.S. or Europe during the year," said Munoz.

Persons: Felipe Munoz, Jato, Munoz Organizations: Automotive, Jato Dynamics, Brands Locations: Lianyungang Port, Jiangsu Province, China, U.S, Shenzhen, Europe

[1/2] A Tesla electric vehicle is plugged to a charger in a parking lot in Teia, north of Barcelona, Spain, October 31, 2023. High interest rates and a subdued market are putting customers off, they warned, with Volkswagen's EV order intake half what it was last year. Reuters GraphicsFALLING BEHINDCritics have long warned that a lack of affordable EVs would eventually stall the steep sales growth boosted by early adopters and corporate fleets. A weaker performance in September, consumer sentiment surveys and bleak commentary from carmakers and dealers indicates that low growth era may have arrived. "We call it the valley of death, which we will be going through in 2024 to 2027: low residual values, high supply, and low demand," Nothard added.

Persons: Albert Gea, EVs, Thomas Niedermayer, Flavia Garcia, Tom Carvell, Martina, AutoTrader, Garcia, We'll, Critics, Felipe Munoz, Alistair Bedwell, Langston, Ben DuCharme, Philip Nothard, Nothard, Victoria Waldersee, Nick Carey, Giulio Piovaccari, Paul Lienert, Sumanta Sen, Alexander Smith Organizations: REUTERS, Tesla, Volkswagen, Mercedes, Benz, Reuters Graphics Dealers, Toyota, HK, Reuters Graphics, Ford, GM, United Auto Worker, JATO Dynamics, Langston, Cox Automotive, Thomson Locations: Barcelona, Spain, LONDON, Europe, Germany, Italy, Bavarian, Edinburgh, Scotland, Britain, BYD, Nio, U.S, Rome, Detroit

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