economy
Panic in Germany! America hit them where it hurts, 'Audi' faces major fiasco
The announced increase in American tariffs on car imports from the European Union would represent a significant burden for the German car manufacturer Audi, said the company's finance director, Juergen Rittersberger, today.
TL;DR
- Audi's finance director warns of significant burden from potential US tariff increases on EU car imports.
- The US has threatened to raise tariffs on EU cars to 25%.
- Audi is preparing to launch a new luxury SUV in the US market.
- The company does not have manufacturing facilities in the US and imports vehicles from Europe and Mexico.
- The new Q9 SUV, produced in Slovakia, would be particularly affected.
- Audi is exploring the possibility of US production but needs political support.
- Audi has maintained its profit forecast, excluding potential tariff increases.
- The Volkswagen Group already faces significant annual costs from existing tariffs.
- Audi plans to cut 7,500 jobs by 2029 as part of cost-saving measures.