According to a report by Reuters on September 22, BMW CEO Milan Nadelfeldt stated in an interview published in the German newspaper Frankfurter Allgemeine Zeitung on Tuesday that he supports using voluntary price agreements rather than tariffs to address the threat posed by low-cost Chinese car imports to the European automotive industry.
Nedelkovic said, “The selling prices of some Chinese cars here are hard to understand from a commercial perspective.” He added that this could encourage European protectionist tendencies.
The EU is evaluating measures to address the 'unsustainable' trade deficit with China, as described by the European Commission President Ursula von der Leyen.
Some senior executives of European automobile companies and politicians have called for the introduction of rules regarding local content requirements, and have expanded the scope of tariffs to include Chinese plug-in hybrid vehicles. They are concerned that their market share may be threatened.
Nedelkovic called for political dialogue with China, aiming to reach a consensus on market-based pricing, and to take specific measures based on that agreement.
He told the newspaper: "Adding tariffs will constitute a larger level of interference, so I support achieving voluntary agreements under fair conditions." He added: “No one hopes the situation escalates.”
BMW has repeatedly criticized the EU's current tariffs on imported electric vehicles from China and warned that such measures could trigger trade disputes.
BMW produces pure electric MINI cars in China and exports them.
