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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.

Why you must buy an air-cooled Porsche 911 now

"Because" might be a good response to our headline, but as a vintage (purists might call 'proper') Porsche 911 is hardly cheap, we suspect you'll need a better explanation than that. Enter Drive editor Mike Spinelli.
Spinelli sits down with Zac Moseley and Mick Prichinello from Classic Car Club Manhattan to first explain why the market for old, air-cooled 911s has gotten so hot over the past few years, and to discuss if it's a bubble that's about to burst. Following that, this video is really is just three guys sitting around talking about old Porsches for 35 minutes. Which, you know, we're pretty onboard with.
Scroll down and have a look at the latest episode of After/Drive, from Drive.

2016 Porsche Boxster Spyder marks the return of something great [w/video]

Welcome back, Porsche Boxster Spyder. We absolutely adored the previous version – a roadster focused solely on driver enjoyment and simplistic perfection. Heck, we didn't even care that it had cloth loops for door handles. And this new model looks to (somehow) offer even more to love. Let's start with that engine: the 3.8-liter flat-six tuned to produce 375 horsepower and mated exclusively to a manual transmission, which powers the Spyder to 60 miles per hour in 4.3 seconds, on its way to a top speed of 180 mph. But power isn't the only thing that makes the Spyder package so great. It uses brakes from the 911 Carrera S, is the lightest Boxster in the range, sits 20 millimeters lower to the ground than the standard car, and still features the manually operated cloth roof from the previous car. And it looks fantastic. Fan-freaking-tastic. Inside, there's a whole lot of nothing, and that's just fine with us. Want a radio? That'll be extra. Air conditioning? Open your wallet for that, too. Seems odd in a car that'll start at $82,100 when it goes on sale later this year. But once again, this Boxster Spyder is a tactile sports car whose only mission is to offer outstanding driving dynamics – comfort options are optional, but not necessary. We can't wait to get our hands on this one. New York International Auto Show 2015: World Premiere of the Boxster Spyder New top model in Boxster family Atlanta. Porsche is highlighting the 2015 convertible season by celebrating the world premiere of the new Boxster Spyder. This pure sports car will make its debut at the New York International Auto Show. The new top model of the Boxster range retains the unique and unmistakable character of the previous Spyder, which has already attained cult status. For example, the classic roadster top is still opened and closed by hand, and the Boxster Spyder is only available with a manual transmission, benefiting both weight savings and driver enjoyment. Staying true to roadster DNA, the Boxster Spyder offers a traditional sports-car driving experience combined with truly exceptional performance. This includes a firm sport suspension with a 20-mm lower ride height, brakes taken from the 911 Carrera S, more direct steering, and a 3.8-liter horizontally opposed six-cylinder engine with an output of 375 hp, culminating in a genuine sports car experience with outstanding driving dynamics. It is the lightest model of the current Boxster line, and the most powerful Boxster to date.