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BMW is hiking the price of American-made SUVs in China

July 30, 2018

Via: CNN

The German automaker said it has hiked the prices of two popular sports utility vehicles in the world’s biggest car market after China put tariffs on American-made imports. The prices of its X5 and X6 models have increased by 4% and 7% from Monday.

The price changes were made because of “the increased import duty for US-made cars,” a spokeswoman for BMW (BAMXF) said.

Beijing placed new tariffs on American vehicles earlier this month in retaliation for US measures against $34 billion of Chinese exports. BMW is the second major automaker to raise prices in China, following Tesla (TSLA).

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