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Trump reportedly says he wants to wipe German cars off the U.S. map

BERLIN/FRANKFURT — A report that U.S. President Donald Trump has threatened to pursue German carmakers until there are no Mercedes-Benz rolling down New York's Fifth Avenue dented shares in the luxury car manufacturers on Thursday. An excerpt from German magazine Wirtschaftswoche's article, which cited several unnamed European and U.S. diplomats but did not include any direct quotes, could not be independently verified, while a U.S. Embassy spokesman in Berlin referred questions to Washington. The news and current affairs magazine said Trump had told French President Emmanuel Macron in April that he aimed to push German carmakers out of the United States altogether. Macron's administration in Paris declined to comment on the report. The Trump administration last week opened a so-called Section 232 trade investigation into vehicle imports, which could result in a 25 percent tariff on cars on the same "national security" grounds Washington used to impose metals duties in March. This could destroy exports by German carmakers, which control 90 percent of the U.S. premium market and are the biggest European Union exporters of cars to the United States. BMW owns Rolls-Royce, while Daimler has Mercedes-Benz, and Volkswagen controls Bentley, Bugatti, Porsche and Audi. Daimler, BMW and Audi declined comment. Porsche was not immediately available for comment. BMW shares were trading 0.5 percent lower at 0939 GMT, while Daimler and VW's shares were down 1 percent and 1.6 percent respectively, underperforming Germany's blue-chip DAX. Trump has railed against German carmakers before. And in early 2017, in an interview with German newspaper Bild, he said he would impose 35 percent tariffs on imported cars. At the time, the president called Germany a great car producer but said that the business relationship with the United States was an unfair one-way street. Germany's auto industry association VDA says its members exported 657,000 vehicles to North America last year, with total exports of vehicle components, cars, engines, as well as second-hand vehicles totaling 31.2 billion euros in 2016. Imports from the United States to Germany amounted to 7.4 billion euros, meaning a trade deficit of 23.8 billion euros the VDA's latest available figures show. However, German brands also have huge factories in the United States, where they built 804,000 cars last year, VDA said, providing jobs for U.S. workers. Berlin has reacted angrily to the U.S.

Weekly Recap: The divergent paths of Tesla and Fisker

There's no doubt that Tesla is downshifting while Fisker has been grinding its gears. But it wasn't always that way.
In the wake of Tesla's recent success, it's easy to forget that there were once two California electric carmakers with bright futures.

Audi reveals facelifted A7 and S7 in Europe [w/videos]

Audi has revealed the nip/tuck and stylistic upgrades for the A7 that we got clues to in spy shots from back in January. The single-frame grille has been subtly reworked along with the lower front fascia and headlilghts. Those bulbs are underlined by a new design for the LED DRLs, and - in Europe - they can be had with Matrix Beam LEDs that come with dynamic turn signals. Out back is a tweaked bumper, as well as new exhaust tips and taillights with an LED pattern that mimics the front lights.
Cockpit inhabitants get new surface treatments like the aluminum and Beaufort walnut inlays, Valcona leather and five possible colors for the seats. The company's MMI Navigation Plus with MMI Touch is fitted with an Nvidia chip for faster graphics processing, and LTE-enabled internet connectivity is standard.
Up front, the 3.0-liter bi-turbo TDI gets a power boost to 320 horsepower and is attached to an eight-speed transmission; a seven-speed S tronic transmission is paired to the rest of the line. The revised 3.0-liter V6 TDI recently discussed at the Vienna Motor Symposium also joins the lineup, here offered in both the 272-hp and 218-hp variants, that latter "ultra" version said to return 50 US miles per gallon.