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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.

World Car Awards finalists snub American-branded vehicles — except for Bronco

The list of World Car Awards has been whittled down to 10 finalists, but only one American brand — Ford — appears among the remaining nine carmakers for this yearÂ’s top award. The Bronco is there, and it also is balloted as a finalist in the design category. The other categories are performance car, urban car, electric vehicle and luxury model. Each category has five finalists except World Car, which has 10. One brand conspicuous by its absence in any category: Tesla. The winner in each is scheduled to be crowned March 27 at the New York International Auto Show in Manhattan. This year marks the 20th year of the World Car Awards and the partnership with the New York show. The selection process involves 100-plus automotive journalists from 29 countries who vote, as they review and test-drive the eligible vehicles for the 2024 awards. Their journey is captured virtually on World Car TV. If youÂ’re counting, the brands that appear most on the six finals lists are Mercedes-Benz (four times), BMW (also four), Hyundai (three), and Volvo (three). HereÂ’s the full listing. A video clip showing all of them is here: World Car -BYD Seal / Atto 4 -Ford Bronco -Hyundai Kona / Kona Electric -Hyundai Santa Fe -Kia EV9 -Mazda CX-90 -Subaru Crosstrek -Toyota Prius -Volkswagen ID.7 -Volvo EX30 World Car Design of the Year Ford Bronco Ferrari Purosangue Toyota Prius Volvo EX30 Zeekr X 2024 World Electric Vehicle BMW i5 Kia EV9 Mercedes-Benz EQE SUV Volkswagen ID.7 Volvo EX30 2024 World Luxury Car - BMW 5 Series / i5 - Lexus LM - Mercedes-Benz CLE - Mercedes-Benz E-Class - Mercedes-Benz EQE SUV 2024 World Urban Car  - Abarth 500e - BYD Dolphin - Lexus LBX - Suzuki Fronx - Volvo EX30 2024 World Performance Car - BMW M2 - BMW XM - Ferrari Purosangue - Hyundai Ioniq 5 N - Porsche Cayenne Turbo E-Hybrid

FCA to pay buyers $1,700 to swap out of scandal-mired VWs

FCA is trying to gain some sales from arch-rival VW in the competitive European market by offering potential buyers in Italy up to $1,700 to swap into an FCA group car. While the promotion isn't specifically targeted at TDI owners affected by the emissions scandal, it is clearly intended to turn dissatisfaction with VW's defeat device cheat into additional sales, Bloomberg reports. The 500-1,500 euro incentive (roughly $560-1,700, depending on vehicle) stacks on top of any other rebates or deals applicable, and applies if a buyer brings in any of Volkswagen Group's cars – including Audi, Skoda, and SEAT, among (many) others. As Bloomberg notes, it's normal for automakers to offer "conquest" deals – giving a buyer cash for trading in a competitor's vehicle. Those deals aren't usually limited to one company's products, however; FCA's program looks specifically to take advantage of VW's legal and public relations nightmare. FCA isn't the only automaker trying this trick in Italy. Automotive News Europe also reported that Ford is offering approximately $840 in incentives across its entire range to owners of VW vehicles seeking to trade in for a Ford. No word of yet as to whether these incentives will spread beyond Italy or to other automakers.Related Video: