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U.S. tariff threat hits European automakers' stocks

FRANKFURT, Germany — A U.S. warning that it may introduce tariffs on foreign auto imports hit shares in German carmakers BMW, Daimler and Volkswagen on Thursday, which together have a more than 90 percent share of North America's premium car market. Washington said on Wednesday it had launched an investigation into whether car and truck imports are a national security issue due to signs they had damaged the U.S. auto industry. That could lead to new U.S. tariffs — up to 25 percent — similar to those imposed on imported steel and aluminum in March. BMW and Daimler shares fell as much as 3.1 percent in early Thursday trading, while Volkswagen's dropped as much as 2.5 percent. "(U.S. President) Donald Trump is obviously not thinking about how to prevent a trade war. Import duties on cars would be a nightmare for the German auto industry and would lead to a massive sales impact," said Thomas Altmann at Frankfurt-based asset manager QC Partners. BMW on Thursday condemned the move to consider tariffs. "The BMW Group is committed to free trade worldwide. Barrier-free access to markets is therefore a key factor not only for our business model, but also for growth welfare and employment throughout the global economy," it said. Daimler, which makes Mercedes-Benz cars, and Volkswagen, which makes upmarket Audis and Porsches, were not immediately available for comment. German carmakers produced 804,000 cars at local factories in the United States and exported 657,000 German-made cars into North America last year, according to German auto industry association VDA. China took pains on Thursday to welcome German firms and investments, with Premier Li Keqiang talking up relations after a meeting with German Chancellor Angela Merkel. BMW and Mercedes have expanded production capacity in the United States, but BMW, Audi, Volkswagen and Daimler have also invested billions to build new factories in Mexico in the hope of selling locally produced cars into the United States. German carmakers hiked vehicle production in Mexico by 46 percent to 620,000 cars last year, while production levels inside the United States fell by 6 percent to 804,000 cars because of a shift to Mexico, according to the VDA. BMW has its biggest factory worldwide in Spartanburg, South Carolina, and is the largest vehicle exporter among all the carmakers in the United States measured by value of goods exported. More than 70 percent of BMW's U.S.-made cars are exported.

Audi CVT suit settlement given green light, 64,000 cars covered

Audi drivers, listen up. If you bought or leased a 2002-06 model-year A4 or A6 with a factory-installed Continuously Variable Transmission (CVT) that failed, you may be entitled to reimbursement under a recently settled class-action lawsuit with corporate parent Volkswagen.
According to Automotive News, the settlement covers about 64,000 vehicles and alleges that "manufacturing and design problems caused the transmissions to fail and left owners stuck with repair costs." While the suit also argues Audi was aware of these issues (going so far as to hide that knowledge from consumers), the settlement stops short of acknowledging any wrongdoing by the German automaker.
Audi drivers are eligible for a cash reimbursement if their CVT repairs occurred within 10 years or 100,000 miles of the date they bought or leased the vehicle before June 19, 2013. To be eligible for compensation, drivers must submit a claim form (found here) with supporting documents by November 18.

Audi RS3 Sedan coming to America with over 400 hp?

The Mercedes-Benz CLA45 AMG is a fast, competent car. It's significantly sharper than the Audi S3, and it should be, since its starting price is around $7,000 more. Still, getting walloped by the higher-performing CLA45 AMG must irk some people at Audi, we'd think, which might explain why there are rumors that the S3's big brother is coming to town. Yes, reports are popping up from an Audi of America employee that the Audi RS3 would transition from its Euro-market Sportback body style to a more conventional four-door, and that its styling would be updated in the process. Oh, and it'll have a 400-plus-horsepower, 2.5-liter, five-cylinder turbo with which to bash the four-cylinder AMG. The report comes from Quattro World by way of CarScoops, and goes on to claim that Audi hallmarks like Quattro all-wheel drive and a seven-speed S-Tronic dual-clutch transmission will both be present. The new RS3 Sedan would arrive on US shores in 2017 as a 2018 model, with prices starting between $55,000 and $60,000. That should make Mercedes-AMG very nervous – the CLA45 may start around $50,000, but getting it past the $60,000-range is simple (your author was driving a nearly $68,000 CLA45 just last month, for example). Naturally, we have a call in with Audi of America to see if there's any credence to this report. Stay tuned for updates. Related Video: