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Trade war prompts BMW to raise SUV prices

Published 07/29/2018, 10:12 AM
© Reuters.  Trade war prompts BMW to raise SUV prices
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  • BMW (OTCPK:BMWYY) is raising prices on its U.S.-made X5 and X6 SUV models by 4%-7% in China to cope with the additional cost of tariffs on American car imports into the world's biggest auto market.
  • "BMW stands for free (trade) but can't stand still without taking actions to respond to the market changes," a spokeswoman told Reuters.
  • Amid escalating trade tensions, Beijing slapped an additional 25% levy on U.S.-made cars as of July 6, resulting in a 40% import duty on all cars imported from the U.S.
  • Now read: Don't Underestimate Retail Sector Strength


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