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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.

Automakers are getting nervous about Europe's economy

Carmakers BMW and Stellantis on Thursday expressed concerns about Europe's economic outlook, joining a chorus of retailers and others in warning of waning consumer confidence on the continent and hitting their shares. "Obviously the macro(-economic situation) in Europe is more challenging, which gives me pause, personally," Stellantis chief financial officer Richard Palmer said on a conference call with analysts. "If there was anywhere where I was more concerned, it would be Europe than anywhere else really based on the macro." This follows a dire assessment of consumer sentiment in Europe from the likes of consumer goods company Unilever and news of lower spending by Europeans from Amazon. Like other major auto companies, Stellantis and BMW have been hit by supply chain disruptions stemming from the global coronavirus pandemic that have curtailed car production. They have also benefited from strong consumer demand amid low vehicle supply, allowing them to raise prices and keep them high even as the semiconductor shortage shows signs of easing. BMW posted a 35.3% jump in third-quarter revenue despite a small drop in vehicle sales. Stellantis said its revenue rose 29% on the back of a 13% increase in vehicle sales as more semiconductors became available. The concern among analysts has been that demand may falter, just as carmakers get their hands on the supplies they need, undermining pricing and hurting profits. But this week Ferrari said it was confident about its prospects for this year and 2023 as demand for its luxury cars, as well its pricing power, remained strong. Both BMW and Stellantis said on Thursday they had vehicle order books that stretched into the second quarter of 2023. But BMW's chief financial officer Nicolas Peter said high inflation and rising interest rates could hit buyers' wallets. "This is causing conditions for consumers to deteriorate, which will affect their behaviour in the coming months," he said. "We therefore continue to expect our higher-than-average order books to normalise, especially in Europe." He added customers had been unhappy about the wait for new cars, so "a slight reduction (in orders) would not be negative." Palmer said Stellantis was "ready for any softness in demand" but in the short term had been affected by a shortage of drivers to deliver its cars to dealers. "At the moment, we can't build enough cars," he said.

BMW builds awesome M4 GTS safety car and racing wheelchair

BMW has developed two very different, but equally impressive wheeled vehicles recently. The first is the new M4 GTS Safety Car, specially prepared to serve Germany's popular and highly competitive DTM touring car series. It packs 500 horsepower and trick water-injection tech, just like the other 700 road-going examples of the GTS. Unlike the street version, it features key upgrades like special LED lighting, radio communication equipment, and special livery, as well as the no-cost optional Clubsport pack that includes six-point racing harnesses, roll cage, and fire extinguisher. The other new BMW doesn't have an engine, but is highly impressive nonetheless. It's a racing wheelchair created by BMW DesignWorks. Stemming from the automaker's partnership with the United States Olympic Committee, it features carbon-fiber construction and has been streamlined for aerodynamic efficiency. Members of the US Paralympics Track and Field team will help further develop the wheelchair before using it at the upcoming games in Rio de Janeiro. We wouldn't be surprised if longtime BMW driver Alex Zanardi helped in its development as well, even if he'll be competing for Italy at the Paralympic Games this year. Related Video: New high-performance special model BMW M4 GTS to be employed as a safety car at the DTM in 2016. Special models from the BMW M's mid-range series with even better performance and radically designed for high-level driving dynamics have enjoyed a lasting tradition at BMW M Division for decades now. The latest example is the BMW M4 GTS. BMW M has opted for a particularly spectacular way of drawing the public's attention: The BMW M4 GTS is to become the official DTM safety car during the 2016 season. Munich , 28th April 2016. Special models from the BMW M's mid-range series with even better performance and radically designed for high-level driving dynamics have enjoyed a lasting tradition at BMW M Division for decades now. The latest example is the BMW M4 GTS, which is limited to 700 units (combined fuel consumption: 8.5 l/100 km; combined CO2 emissions: 199 g/km)*. In order to provide formidable proof of this elite sports car's outstanding performance qualities, BMW M has opted for a particularly spectacular way of drawing the public's attention: The BMW M4 GTS is to become the official DTM safety car during the 2016 season. The demands on such a lead car at the most popular international touring car series are high.