Volkswagen CEO calls for level playing field, not tariffs
The chief executive of the Volkswagen brand, Thomas Schäfer, has said he believes it was inevitable that Chinese car companies would make big inroads into the market in Europe.
His comments came after official figures showed an increase of almost 40% year on year in the volume of cars imported into the European Union from China in 2023.
Speaking at a Financial Times event called Future of the Car on May 9, Mr Schäfer said the European market was bound to be attractive to Chinese automotive manufacturers because it offers “the strongest margins”.
He insisted that competition was good, saying: “It keeps you on your toes and drives innovation.”
But Mr Schäfer made it clear he does not support suggestions that the European Union should impose higher tariffs on imported cars from China to help European manufacturers stay competitive. Currently, Chinese-made cars are subject to a tariff of 10% in the European Union.
“Tariffs are no help,” the Volkswagen chief executive said, “but everybody has to compete on a level playing field with the same rules for everybody. Chinese companies need to comply with European regulations, and we are very complex in everything we do here in Europe. But I don’t believe in tariffs.”
