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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.

Porsche recalling Macan S and Turbo for fuel leak

Porsche is recalling 58,881 examples of the Macan S and Turbo worldwide because of a possible leak in the low-pressure fuel line in the engine compartment. Of these, there are 21,835 affected in the US and 3,490 in Canada. According to the German automaker, this campaign is "a purely precautionary measure" because there're no reports of any accidents or injuries from the flaw. As a fix, dealers will replace the fuel line, which will take around an hour. Porsche will contact owners directly to arrange for the service. The company discovered the issue "after a precise examination of complaints," according to its statement, and corrected the problem for units in production. Porsche Examines Macan S and Macan Turbo Vehicles October 30, 2015 Possible leak in low-pressure line – affected customers will be contacted directly Atlanta, Georgia. Voluntary safety recall: Porsche is conducting an examination of 58,881 Macan S and Macan Turbo vehicles around the world, of which 21,835 are in the United States and 3,490 are in Canada. The reason for this move is a possible leak in the low-pressure fuel line inside the engine compartment. The line will be replaced in the workshop. This is a purely precautionary measure, as there have been no reports of accidents or injuries as a result of this concern. The problem was identified after a precise examination of complaints and then immediately rectified in ongoing production. Owners of the vehicles will be contacted directly and workshop appointments will be arranged as quickly as possible. The work will take approximately one hour and will be carried out free of charge.

Porsche announces four flavors of updated Cayenne [w/video]

The new Macan may be getting all the attention lately, but Porsche hasn't forgotten about its larger crossover – the one that put it on the map in 2002 and on the road to profitability, with over half a million sold so far. So to keep the Cayenne at the top of its game, Porsche has announced several key upgrades for the 2015 model. For starters, Porsche has updated the Cayenne's appearance with new front- and rear-end styling. The front bumper, fenders and hood are entirely new, with air fins flanking the nose to direct air into the intercoolers (each model now being artificially aspirated), and new bi-xenon headlamps and daytime running LEDs on every model but the Turbo, which goes all-LED. Around back there's also new taillights, tailgate handle, lower rear fascia and exhaust pipes. Meanwhile the interior has been upgraded with a 918-derived sport steering wheel and reformed rear seats with available ventilation. The bigger news is under the engine bay, where Porsche is offering four choices. The base model is gone as the range starts with the Cayenne Diesel, followed by the Cayenne S, the new Cayenne S E-Hybrid and the top-of-the-line Cayenne Turbo. The Diesel model carries over the same 3.0-liter turbo diesel with 240 horsepower. The Cayenne S however packs a 3.6-liter twin-turbo V6 that's similar to the one found in the Macan Turbo and packs the same 406 lb-ft of torque but more power at 420 hp, 20 more than either its little brother or the model it replaces to reach 62 mph in 5.2 seconds. The new Cayenne S E-Hybrid makes Porsche the world's only car manufacturer to offer three plug-in hybrid models. Porsche has also ported over the powertrain from the Panamera S E-Hybrid to make what Porsche refers to as "the first plug-in hybrid in the premium SUV segment" and, along with the 918 Spyder, make it (almost unbelievably) "the world's only car manufacturer to offer three plug-in hybrid models" (unless, of course, you count the Opel/Vauxhall Ampera as separate from the Chevy Volt and Cadillac ELR). The system mates a 3.0-liter supercharged V6 with 333 hp to an electric motor with 95 hp to give it a combined output of 416 hp (more than the diesel and almost as much as the S) to propel it to 62 in 5.4 seconds, hit an all-electric top speed of 78 mph and an all-out top speed of 151 mph – offering a substantial improvement over the previous Cayenne S Hybrid.