BMW raises prices of cars its sells in China, following the nation’s higher import tariffs on U.S.-made automobiles.
Prices of BMW’s X5 and X6 models are now respectively 4% and 7% higher in China. The German auto behemoth exported around 81,000 cars from its South Carolina manufacturing unit to China last year, which contributed around $2.4 billion revenues for the company.
BMW is one of the major players to have been hit by the U.S.-China ‘trade war’ in recent times. Following U.S. levies on $34 billion worth of Chinese imports, China retaliated by taxing an equal amount of American goods imported into its nation.