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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.

Daimler ponders partnerships with Apple, Google

Daimler Chairman Dieter Zetsche is willing to consider joint ventures with tech giants like Apple and Google. Don't expect the automaker's vehicles to become just another platform for their software, though. In an interview with a German magazine, the chairman admits "different types" of partnerships could be possible, according to Reuters. As vehicles become increasingly connected, greater expertise is necessary in creating their software. The changing market is an opportunity for tech companies to enter the auto industry. "Google and Apple want to provide system software for cars and bring this entire ecosystem around Apple and Google into the vehicle," Zetsche said, according to Reuters. "That can be interesting for both sides." Although, he was clear no deals had happened, yet. For automakers, the danger of this cooperation is for a vehicle to be just a physical device that runs the software. "We don't want to become contractors who have no direct content with customers any more and supply hardware to third parties," he said in the interview. Zetsche has been working out how to create this balance for a while. Earlier this year, he said that some partnerships with Silicon Valley firms could be helpful. However, data privacy remains a major concern, especially in the wake of multiple vehicle hacks in recent months. In the chairman's opinion, a Mercedes-Benz shouldn't just protect its occupants physically but also their personal information. Related Video:

Lewis Hamilton cruises to victory at the Singapore Grand Prix

SINGAPORE (Reuters) - Britain's Lewis Hamilton eased to victory from pole position at the Singapore Grand Prix on Sunday as the Mercedes driver extended his championship lead over Ferrari's Sebastian Vettel to 40 points with six rounds remaining. Hamilton held off a mid-race challenge from Red Bull's Max Verstappen to register a record-equaling fourth triumph at the floodlit Marina Bay Street Circuit track, while Vettel finished third to slip further behind in the title race. "Great job everyone, what a weekend... keep pushing, keep pushing, we've got this," Hamilton told his team over the radio soon after crossing the line at the end of the 61st lap. Hamilton's 69th overall victory was his seventh of the season and it was built on the foundations of a stunning qualifying lap on Saturday, when he stormed to pole in a car deemed inferior to the Ferraris and Red Bulls on this circuit. For Vettel and Ferrari it was another disappointing weekend after the car showed plenty of pace through all three practice sessions, the German's cause not helped by a questionable strategy and a poor pitstop. Hamilton won this race from the third row a year ago when Vettel, Verstappen and Kimi Raikkonen collided before Turn One but there was no repeat of such drama this time after the drivers got off to a clean start at the head of the field. There has, however, been a safety car period in every race in Singapore since it joined Formula One in 2008 and it was deployed on the opening lap after Sergio Perez pushed his Force India team mate Esteban Ocon into a wall after Turn Three. "Sorry guys there was no room," Perez told his team over the radio. Vettel got past Verstappen before the safety car emerged and slotted in behind Hamilton, but his race unraveled when the German pitted first on the 14th lap but got stuck in traffic and overtaken by the Dutchman when he made his stop for fresh tires. BACK MARKERS Hamilton was cruising up front but suffered a mini-crisis on the 38th lap when he got stuck in a queue of tail-enders, which allowed Verstappen to get right up behind him. The Dutchman had a look up the inside as Hamilton struggled to pass the back markers but the Briton just stayed ahead and was able to pull clear all the way to the checkered flag once he had a clear track ahead of him. "It definitely got a little bit interesting toward the end with the back markers as you could already feel the draft from the cars when you were five and six seconds behind," Hamilton added.