FRANKFURT (dpa-AFX) - The threat of special European tariffs on Chinese electric vehicles continued to unsettle shareholders of local car manufacturers on Thursday. VW shares fell by a further 2.9 percent after losses the previous day. However, the share prices of premium manufacturers Porsche AG, Mercedes-Benz and BMW also fell again by up to 4.2 percent. The European sector index Stoxx Europe 600 Automobiles & Parts brought up the rear in the sector ranking, falling by 2.1 percent.

Market observer Andreas Lipkow warned in the morning that the planned punitive tariffs on electric cars from China could very quickly backfire. Experts had already warned of a reaction from China the previous day and pointed out that German manufacturers were now also importing cars from the Far East to Europe. These imports would also be made more expensive by customs duties, they said.

In stark contrast to the domestic markets, investors in Asia reacted positively to the news for car stocks: BYD's share price, for example, rose by more than four percent in Shanghai. One trader said that the news removed a major uncertainty factor from the shares of Chinese manufacturers. The market said that BYD's price advantages should probably not be affected by the tariffs. The shares of manufacturers Nio, Li Auto and Geely also posted gains in China.

For Porsche AG shares, the price losses on Thursday meant another record low. VW fell to its lowest level since December last year, while BMW is trading at its lowest level since November. Mercedes-Benz are currently as cheap as they were last at the beginning of February./tih/bek/stk