The price of the Tesla Model 3 could increase due to the European decision to impose tariffs on electric vehicles of Chinese origin are already beginning to manifest. The most notable comes from Tesla, which starting in July plans a significant adjustment in the prices of its models.
Tesla has informed customers of an impending price hike on the Model 3 in response to the new tariffs. “The price of the Model 3 is likely to increase from July 1, 2024 due to expected tariffs. Place your order and receive it before June 30 to secure the current price (from 39,990 euros).“, says the Tesla Spain press release. This announcement is also reflected on its website, where it adds that buyers will receive 20,000 km of free Supercharging.
Tesla Model 3 price affected by tariffs on electric vehicles.
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The European Commission mentioned in its official statement that“Tesla could receive an individually calculated duty rate at the definitive stage,” suggesting that the brand could benefit from a lower tariff rate. Tesla has asked for special consideration, arguing that it has received less state support compared to other Chinese manufacturers. Thus, the final price increase for Model 3 is not yet defined.
In contrast, the British firm MG, under the ownership of the Chinese giant SAIC, faces a tariff increase of 38.1%, the highest imposed by Brussels. MG has expressed its dissatisfaction with these tariffs, considering them a protectionist measure that hinders the market. The company does not rule out future price increases or other actions to mitigate the impact of these tariffs.
MG requests tariff review
MG is the leading Chinese manufacturer in electric vehicle registrations. electric vehicles in Europe, especially in Spain, where its HS model is among the top ten best sellers. The company highlights SAIC’s significant investments, valued at nearly 20 billion euros, and its more than 26,000 registered patents.
MG urges the European Commission to reconsider its decision and encourage constructive dialogue with international partners, including China, to establish mechanisms for fair competition and sustainable development.
China’s strategy in the face of new tariffs
In the long term, tariffs could incentivize Chinese manufacturers to invest in production plants in Europe to circumvent these tariffs. This would not only help keep prices competitive, but could also create jobs and strengthen Europe’s industrial infrastructure. However, such moves would require significant planning and investment, which means that the effects would not be seen immediately.
These additional perspectives and reactions provide further context on how the European Union’s decision to impose tariffs on Chinese electric vehicles may impact various aspects of the automotive market and industry in Europe.
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Source: elperiodicodelaenergia
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