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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.

BMW begins restoring Elvis Presley's 507 [w/video]

Imagine the King of Rock n' Roll driving a car and you'll likely picture a pink Cadillac or a yellow De Tomaso shot full of holes. But Elvis also owned a 1957 BMW 507 roadster, and now that roadster is returning home to BMW headquarters.
The 507 was a rare bird, of which only 254 examples were ever made. They were sold mostly to celebrities and royalty, but Elvis Presley was a GI when he bought it while stationed in Germany. The example that he bought had been displayed at the Frankfurt Motor Show, used as a press car and raced by Hans Stuck (which is how Elvis came to see it in the first place), so when he took delivery of it second-hand, the dealership had a new engine installed. It was originally white, but legend has it that Elvis got tired of women writing their phone numbers on the side of it in lipstick that he had it repainted in red.
Stories differ on what exactly happened to it next, with some saying that he returned it once the lease was up and other saying that the army shipped it back to him in the States after his tour was over. But what we do know is that the car sat for many years, neglected but sheltered from the elements. Now it's heading to the the BMW Museum in Munich, where it will be on display until August 10, after which the BMW Group Classic department will undertake a comprehensive restoration of the star-studded roadster that's expected to take two years of work.

BMW's next-century concept mentions no powertrain, and we're sad

So the Ultimate Driving Machine might soon become the Ultimate Machine Driver. We get it, that's the way things are moving. For its part, BMW still plans to involve a driver in its next-century designs, as foretold by the Vision Next 100 concept it unveiled at its centenary celebration kickoff event. But what gets us is that BMW, Bayerische Motoren Werke, the company known for delivering some of the most sorted powertrains – gasoline and otherwise – over the last century makes no mention of the future of propulsion when presenting its idea of the next 100 years on the road. Maybe it's the fact we just don't know what will power our cars even 10 years down the line; locking into one concept or another could look bad in hindsight. But the whole, er, concept of a concept is to look at what might be possible, not avoid sticky issues. Where are the in-hub motors, the wireless charging mats, the onboard fusion reactors we were promised in Back to the Future Part II? This is an opportunity to offer innovative solutions. Skipping over the power was a mistake, and one that makes me a little disappointed in the company. I'd have liked to see BMW go big with a bold prediction, or even just admit that gas will be gone and some form of electrification will take its place by 2116. We're okay with electric motors as long as they don't drain the life out of cars, and they don't have to, which is something companies like Tesla and even BMW have proven. Here's hoping one of BMW's other centenary concepts will pick up where the Vision Next 100 fell short. Related Video: Featured Gallery BMW Vision Next 100 Concept Green BMW bmw vision next 100 concept