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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.

Highlights from the Goodwood Festival of Speed, including the McLaren P1 and a Ford Transit running the hill

The sole purpose of this post is as a time-waster, and since you shouldn't have to work to waste time, we've done it for you. In the numerous videos below you'll find cars that have lately been in the news tramping all over the grounds of Lord March's estate in Goodwood, England.
There's the McLaren P1 heading up the hill, the Jaguar Project 7, then a casually-driven Porsche 917 followed by an even-more-casually-driven Porsche 956, topped off by a Porsche 936 that is anything but casually driven. The next round is the flame-spitting Peugeot 405 T16 Pikes Peak from Climb Dance, a camera mounted on the Peugeot RCZ R after it showing you what the whole, uninterrupted run up the hill looks like. For a real head-turner, we couldn't embed it but there's Andy Reid blasting up the hill in a Ford Transit Supervan with a Cosworth 3000 V6 engine.
The modern racing contingent has Allan McNish doing the hill in the Audi R18 e-tron quattro he used to win Le Mans and Lewis Hamilton making lots of tire smoke in the Mercedes-AMG Petronas MGP-W02. For comparison, that's followed by Nick Heidfeld's record-setting run up the hill in 1999 in the McLaren MP4/14 . The classic racing contingent is headlined by 71-year-old Giacomo Agostini on an MV Agusta.

Bahrain Grand Prix proves that Formula 1 finally has parity

Ferrari driver Sebastian Vettel claimed victory at the Bahrain Grand Prix 6.6 seconds in front of Mercedes-AMG's Lewis Hamilton. In so doing, Vettel vaulted into first place in the driver standings ahead of Hamilton, with two race victories to the Mercedes driver's one. The decisive moment in the race came with 16 laps remaining, as Hamilton served a 5-second penalty for holding up Red Bull's Daniel Ricciardo in the pit lane in an earlier pit stop during a safety car period. Hamilton was able to reclaim second place in front of teammate Valtteri Bottas with 10 laps remaining, and he cut Vettel's lead from 13 seconds to 6.6 seconds at the finish. Bottas went on to finish third, followed by Ferrari's Kimi Raikkonen in fourth. Ricciardo crossed the line in fifth, meaning there were three constructors in the top five places in Bahrain. Perhaps more than anything else, the 2017 season has been unpredictable and entertaining, marking a break from the last several years in F1 where one marque has been dominant. Here's hoping the rest of the year provides similar thrills and spectacle. Related Video: Image Credit: Lars Baron/Getty Motorsports Ferrari Mercedes-Benz Racing Vehicles F1 Lewis Hamilton Sebastian Vettel