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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.

Audi TT Offroad concept packs 408 hybrid horsepower, yet returns 123 mpg

Audi took the wraps of its TT Offroad Concept at the Beijing Motor Show, after teasing us with sketches earlier this month. "The Audi TT offroad concept provides a glimpse of how we might imagine a new model in the future TT family," says Prof. Dr. Ulrich Hackenberg, Member of the Board of Management for Technical Development. "It combines the sporty genes of the TT with the strengths of a compact Audi SUV."
The latest in Audi's eTron show cars reminds us an awful lot of the the Audi Allroad Shooting Brake concept that debuted a few months ago at the Detroit Auto Show. In addition to very similar physical appearances, the two share the same plug-in hybrid propulsion systems (the "plug-in" part is a bit misleading, as the concept simply needs to be parked over an inductive pad to take advantage of Audi Wireless Charging technology).
Proving that hybrid power never has to be a compromise, the TT Offroad Concept packs a 292 horsepower turbocharged 2.0-liter four-cylinder under the hood. The combustion engine is assisted by two electric motors (rated at 40 kW at the front and 85 kW at the rear) to provide a total system output of 408 horsepower and nearly 480 pound-feet of torque. With all-wheel drive, the concept hits 60 mph in 5.2 seconds and tops out at 155 mph - while returning a provisional fuel efficiency of 123 miles per gallon equivalent.

2017 Audi S5 First Drive

Let's start with the obvious elephant in the room: The new 2017 Audi S5 looks mostly like the model it replaces. Is that a bad thing? We headed to Portugal to test out the S5 on that country's serpentine back roads, and to see if there's something more substantive behind its evolved exterior. Only compared to the decidedly more evocative Mercedes-AMG C43 Coupe does the svelte S5 come across as a little frumpy. It takes parking the new S5 next to the old one to spot the details. A tweaked profile. A more pronounced belt line. A power-dome hood. Narrower A-pillars. The new S5 is different, but the same, in that grand Audi tradition. Underhood, the differences are again evolutionary. The original S5 featured a 4.2-liter, naturally aspirated V8. A few years back, that was replaced by a supercharged 3.0-liter V6, which in turn has been supplanted in the 2017 S5 by a turbocharged 3.0-liter V6. The turbo, a twin-scroll unit nestled between the cylinder banks, helps the direct-injection engine make a healthy 354 horsepower and 369 pound-feet of torque. That power, 21 hp and 44 lb-ft more than its predecessor, is channelled through Quattro all-wheel drive. The newly developed V6 mates exclusively to a conventional eight-speed automatic, which seems like a step backward. Last year's S5 offered either a six-speed manual or a seven-speed dual-clutch gearbox. We pressed Audi and got the answer we expected: Demand for the stick was nonexistent outside the United States (go America!) and the dual-clutch couldn't handle the 44 pound-foot increase in torque. Curiously, the A5 on which the S5 is based trades last year's eight-speed autobox for a seven-speed dual-clutch. It sounds like someone at Audi put the wrong transmission in each car, but in reality the S5's torquey engine is well-suited to the refined eight-speed. Kick the throttle, get into boost, and all four drive wheels scrabble for traction, especially on the wet pavement we encountered outside of Porto, Portugal. Punch the S5 to pass on a tight two-lane road and the sport exhaust roars with the kind of guttural growl we want to hear in a sporty coupe. It positively scoots. Though its Volkswagen MLB 2 platform is new, the S5 rides and handles like a more refined version of its predecessor. Considerably less road rumble penetrates the cabin, and the S5 strikes a pleasant balance between grand-touring plush and sports-car firm.