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Chinese-made electric Mini threatened with highest EV tariff from EU

BERLIN — The new all-electric Mini Cooper made in China is set to be hit by the highest EV tariff of 38.1% under the EU's provisional plans, a Reuters source familiar with the matter said on Friday, a potential terminal blow for the car's sales prospects. Mass production of the roughly 35,000-euro ($37,345) vehicle, produced by a joint venture of BMW and China's Great Wall Motor Co Ltd, began late last year - shortly after the EU launched its probe. With production still in early days, the joint venture was unable to fulfil the European Commission's survey to the level of detail required to be classed as a company cooperating with the investigation, the source said, declining to be named because discussions are private. Companies seen as cooperating with the EU were subject to lower tariffs of 17.4%-21%, according to a European Commission document seen by Reuters. That includes BMW Brilliance Automotive, another BMW joint venture that has produced the electric iX3 for export to Europe from China since 2021. BMW declined to comment. BMW CEO Oliver Zipse said earlier this week the tariffs were the "wrong way to go", echoing concerns from other German carmakers fearful of a trade war which could end in counter-tariffs on cars exported from Germany to China. The European Commission said that joint ventures producing cars in China would be subject to duties, without specifying whether more recently formed ventures might benefit from the lower 21% rate for companies that cooperated with the investigation. A 38.1% price hike on the Mini, which was to be exported from China to Europe, could dent sales at a time when the carmaker is counting on every projected all-electric sale to help meet tightening carbon emissions targets. The deadline for imposing provisional measures is July 4, after which the investigation will continue to late October. That leaves time for Beijing and Brussels to make a deal to soften the blow. Companies can also submit comments and request hearings after the provisional duties are applied.   Green Government/Legal Rumormill BMW MINI China

Cars selling highest above MSRP and lowest below MSRP

Automakers have returned to offering incentives and promoting new vehicles after a few years of tight inventory and elevated prices. Despite that, prices are still higher than they should be, as a new iSeeCars study found that the average new car is priced above MSRP, though they’re slightly less painful than they were a year ago. iSeeCars found that the average new car price has been marked up to 7.2 percent above MSRP, down from 8.9 percent a year ago. Interestingly, the five most overpriced cars came from two premium brands, while four of the five priced the lowest below MSRP were EVs. New cars selling highest above MSRP Mini Hardtop: 25.5% above MSRP Porsche Taycan Sedan: 23.1% Porsche Cayenne: 21.9% Porsche Macan: 21.3% Porsche Taycan Wagon: 20.9% Cadillac CT5-V: 20% Porsche 718 Boxster: 19.9% Toyota Corolla Cross Hybrid: 19.4% BMW X3 M: 19.4% Cadillac CT4-V: 19.3% Porsche, Mini, and Genesis were the three most overpriced brands overall, with Buick, Acura, and Infiniti landing as the lowest-priced brands. Electric vehicles dominated the list of the 10 most-discounted vehicles: New cars selling lowest below MSRP Hyundai Kona Electric: -4.6% VW ID.4: -3.6% Ford F-150 Hybrid: -3.3% Kia EV6: -2.5% Hyundai Ioniq 6: -2.4% Nissan Maxima: -2.2% Chrysler Pacifica PHEV: -2% Nissan Ariya: -1.9% Hyundai Ioniq 5: -1.9% VW Arteon: -1.8% Those numbers align with what we saw in the market last year, as EV sales grew, but far slower than many had hoped. iSeeCars executive analyst Karl Brauer said. (For a sense of that, you can look back at our coverage of most marked-up cars and most discounted cars from 2023.) “The market appears to have reached a saturation point for electric vehicles," Brauer said, "with both prices and sales struggling compared to a year ago. The high cost of full-size trucks and SUVs, along with the cost of fueling them in the face of inflation and reduced consumer spending power, has dampened demand for these notoriously pricey vehicles.”

More stick shift models added to MINI's 2024 lineup

While automotive journalists have called in recent years for their industry and consumers to “save the manuals," their campaigns for manual transmissions have fallen mostly on deaf ears. Except at MINI. No surprise. The take rate for a stick shift in a Mini is said to be 18% to 20%, and in John Cooper Works models, it's more like 40%. The figure for the auto industry in general is 1.4%, meaning that driving stick is all but a lost art — unless you're driving a Mini, or say, a VW GTI or Golf R. In a presentation this week detailing the changes and specifications of MINIs for the 2024 model year, one revelation stands out: additional hardtop and convertible models that can be ordered with stick shifts. Specifically, the list includes MINI Cooper convertible, the Cooper S ragtop, the Cooper four-door hardtop and four-door Cooper S. Production of those cars is scheduled to begin in March. In November, MINI USA, which is part of the BMW organization, announced the return of manuals in its Cooper, Cooper S and John Cooper Works 2-door hardtops. Here's a pricing breakdown: Regarding other updates announced, MINI will continue to offer “special” editions — Untamed, Untold and Resolute — that launched a year ago and received additional enhancements in November that included new body colors, interior upholsteries, and engine variants. These three editions can be had on the respective models equipped with the Iconic Trim. MINI also says it will reintroduce the base Classic Trim to all Hardtop, Clubman, and Countryman models, and the Signature Trim will feature MINI Navigation as included equipment, with Advanced Real Time Traffic Information built in. In December, the company introduced a pair of tricked-out convertibles named the "Seaside Edition" that can be optioned in Nanuq White or Caribbean Aqua colors. Those models should be hitting dealers right about now, MINI says.