Tesla expects to hike price of China-made cars in EU due to tariffs
Image: Carlos Barria/Reuters
Tesla expects to increase the price of its Model 3 because of import duties to be levied by the EU on cars made in China, the carmaker said on its website on Thursday, without specifying the size of the price hike.
The message, displayed on Tesla's website for countries including Germany, France, Ireland, Belgium, and Hungary, urged prospective buyers to place their orders in June.
"We're anticipating a requirement for us to increase pricing for Model 3 vehicles as of July 1 2024. This is due to additional import duties likely to be imposed on electric vehicles manufactured in China and sold in the EU," the message said.
The European Commission on Wednesday said it will impose extra duties of up to 38.1% on imported electric cars made in China from July, risking retaliation from Beijing which said it would take measures to safeguard its interests.