From Bloomberg:
China announced plans to impose anti-dumping duties on some vehicles imported from the U.S. after failing to block a U.S. tariff on Chinese tires.
Punitive duties will be as high as 12.9 percent for autos from General Motors Co. and 8.8 percent for Chrysler Group LLC, China’s commerce ministry said today on its website. The U.S. units of Bayerische Motoren Werke AG and Daimler AG will face duties of 2 percent and 2.7 percent respectively, it said.
BMW led declines among European automakers on concern higher duties may deter sales in the world’s largest car market. ...
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BMW and Daimler’s Mercedes-Benz both build sport-utility vehicles at U.S. factories for global export. BMW is expanding its factory in South Carolina to produce as many as 300,000 X5, X6, and X3 SUVs next year from 270,000 in 2011.
The Daimler unit plans to invest $2.4 billion between 2010 and 2014 at its plant in Alabama to add equipment for the assembly of the C-Class sedan. The company currently makes the M-Class and GL SUVs as well as the R-Class wagon at the site. The plant produced 125,400 vehicles in 2010.
BMW doesn’t expect the new import duties to have a significant impact on its sales in China, spokesman Mathias Schmidt said by phone, calling the tariffs “regrettable”. Daimler’s Mercedes is reviewing the potential impact from the duties, spokeswoman Bettina Singhartinger said.
