New U.S. Tariffs on Chinese Import hurts Chinese EV Industry
$BYD COMPANY (01211.HK)$ $NIO Inc (NIO.US)$ $XPeng (XPEV.US)$ $Tesla (TSLA.US)$ The U.S. introduced a new series of tariff increases on Chinese imports, amounting to over $18 billion worth of goods. In the announcement, President Biden said they are aiming to “counter China’s unfair trade practices” by targeting specific sectors where the U.S. is boosting domestic production.
My Take:
Someone said the new tariff will not hurt the Chinese EV sales. This is incorrect as the US directed many of its new tariff increases on the entire Chinese EV industry, targeting imports such as semiconductors, lithium-ion batteries, and other battery parts - not just importing electric vehicles. The new tariffs are also targeting new tariffs on certain critical minerals, which are essential for manufacturing battery parts and semiconductors.
Source:
$BYD COMPANY (01211.HK)$ $BYD Co. (BYDDF.US)$ $S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Tesla (TSLA.US)$ $VOLKSWAGEN A G (VWAGY.US)$ $NIO Inc (NIO.US)$ $Li Auto (LI.US)$ $XPeng (XPEV.US)$ $General Motors (GM.US)$ $Ford Motor (F.US)$ $Rivian Automotive (RIVN.US)$ $MERCEDES-BENZ GROUP AG (MBGAF.US)$ $TOYOTA MOTOR CORP (TOYOF.US)$ $GEELY AUTO (00175.HK)$ $Stellantis NV (STLA.US)$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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Shootingstar : things made in china should be priced slightly higher after imposed tariffs. their gov would just need to print more money to subsidize the affected companies to export goods for their gdp sake. rmb should also go down abit making good for trade as well
Dragon Fish : Those who love Battery Swap EV will opt for Nio EV. Nio is different from the rest of Chinese EV makers export to EU.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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ZnWC OP Dragon Fish : Chinese EV sales to EU badly affected by new tariff. This includes Nio. Battery swap has high maintenance cost and is not a sustainable model.
Chinese EV Sep's sales in EU down 9.6%; SIAC EV Sales highest drop -42%
74216494 ZnWC OP : NIO sold about 300 vehicles in the EU since beginning of the year. Any damage to this number can be ignored, compared to NIOs (low) overall sales. May, a final reason to close the terribly expensive NIO houses within EU.
Dragon Fish 74216494 : You anyhow plugged the number 300 or what? Are you the Naysayer aka Shortie always writing the wrong number? Last month you didnt know got one article talking about the last 9 mths total sales in the EU was more than 1500 units. Also can be considered negligible if compared to 21k monthly sales now. Even last Aug to Oct sales to Norway alone already exceeded your 300 units.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
74216494 Dragon Fish : Sorry to say, I was wrong, 300 was the sales of NIO in Germany this year. NIO sales to EU during first three quarters this year about twice as much. China’s EV registrations in Germany in June: Nio 44, BYD 425, MG 5,158
BUT: NIO export Jan-Sept 2024 = 1083 cars only
1100 cars total export of NIO in 9 months this year ! Where did you get the 1500 from ????????
However, Europe is NOT identical with EU, which imposed the tariffs. I.e. Norway is NOT in EU. So, at least sales of NIOs in Norway to be subtracted from the 1100. In Q1 NIO sold 173 cars in Norway Nio Registers 53 vehicles in Norway for March, a total of 173 in the first quarter - EV Which is about 60 cars/month in average. 9*60=540 NIOs to Norway during 9 months. Which leaves not more than 600 NIOs to be sold within EU during 9 months this year. Thus, EUs tariffs on EVs have practically no impact on NIO. QED (quod erat demonstrandum)
ZnWC OP 74216494 : Your comment which is more reliable is supported with data and source of information. Unlike someone who only criticise others but himself gives figures with unknown source (any how plugged).
Soon the EU will follow the US to impose tariffs of Chinese goods that will hurt the entire Chinese EV Industry not just imported electric vehicles. Nio EV, swap station, electric battery, mobile phone etc which are made from Chinese parts will also be affected.
Dragon Fish 74216494 : Same as you I plugged the number from the sky bcos I remembered wrongly too.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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Dragon Fish ZnWC OP : That's why I plugged the number from the sky more than 300 like the naysayer aka shortie too. At least the number is more than 1000 else he thought he was right like you too. Already said Nio is not really affected much by the EU's new tariff.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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Dragon Fish 74216494 : Oct Norway sales numbers exceeded 140 units. You know that? Is it considered improvement?![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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