Tesla plans to increase prices of its Model 3 imported from China in Europe

Tesla plans to increase prices of its Model 3 imported from China in Europe
Tesla plans to increase prices of its Model 3 imported from China in Europe

A victim of the increase in customs duties: Tesla announces an increase in the prices of its Model 3 in Europe.

Tesla reveals imminent price increase for its Model 3 in Europe. The move, relayed on its official website, is a direct response to import taxes imposed by the European Union on electric vehicles manufactured in China. The European Commission recently said it would impose additional duties of up to 38, 1% on electric cars imported from China The announcement highlights growing tensions in trade relations between China and the European Union, with signs of a looming trade war.

A victim of rising customs duties

Tesla announces a price increase for its Model 3 in Europe due to import taxes imposed by the European Union on electric vehicles (EV) manufactured in China. This decision, relayed on the official website by Tesla, will affect potential buyers in countries such as Germany, France, Ireland, Belgium and Hungary. The message, which appeared on the Tesla website, invites customers to place their orders from June. “We anticipate the need to increase the price of Model 3s from July 1, 2024”Tesla said, noting that the move stems from additional import duties likely to be imposed on electric vehicles manufactured in China and sold in the EU. The announcement comes as a result of the European Commission’s decision to impose additional duties of up to 38.1% on electric cars imported from China. The trade war now seems inevitable. For his part, Beijing responded by warning it would take steps to safeguard Chinese intereststhus creating a climate of uncertainty regarding trade between the two economic powers.

China does not intend to let this happen

Tesla, which exports Model 3 cars from Shanghai to Europe, is one of the companies mentioned by the European Commission as having cooperated in its investigation, thus benefiting from lower customs duties, estimated at 21%. However, the Commission also highlighted that Tesla could benefit from an individually calculated duty rate on its Chinese-made electric vehicles, once final duties are imposed in November. With the increased focus on reducing carbon emissions and transitioning to more sustainable modes of transportation, electric vehicles have become a key sector of the automotive industry. However, trade barriers and import taxes risk compromising the competitiveness of players in this sector, which could potentially result in higher prices for European consumers. Chinese manufacturers were ready to invade the European market, but the implementation of new taxes risks compromising the competitiveness of their models.

In short, if you were planning to buy a Tesla Model 3 in the coming weeks or months, you know what you have to do. The increase in prices is not a surprise to anyone, so it is better to hurry to get this model at the best price.

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