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Tesla hikes prices in China as trade war hits carmakers

Reuters  |  SHANGHAI 

SHANGHAI (Reuters) - U.S. carmaker Tesla Inc has hiked prices on its Model X and S cars by about 20 percent in China, becoming the first automaker to raise prices in the world's largest automotive market in response to a U.S.-China trade war.The move is also the first indication of how much higher Chinese tariffs on certain U.S. imports will flow through to showroom floors, with other automakers likely to follow suit or shift a greater portion of production to China.The tariffs will dent margins at Tesla and other automakers who make cars in the United States and ship to China, as they have ...

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First Published: Tue, July 10 2018. 10:12 IST