1988 Porsche 928 S-4 on 2040-cars

Auto blog

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.

Jerry Seinfeld is selling three rare and valuable Porsches

Jerry Seinfeld, whose car guy status has come to the fore in the post-Seinfeld universe with Comedians in Cars Getting Coffee, is selling a few of his Porsches. If you're expecting half-completed restoration candidates or tired old 930s, you're mistaken. What Seinfeld considers excess, most Porsche museums would jump up and down for ... and they might. But they'll have to bid. The three-lot Seinfeld Collection will be the highlight of the Amelia Island Auction by Gooding & Company on March 11th. At the top of the pre-auction estimate heap is a 1955 550 Spyder, one of the most coveted road cars the company made. It could go for $6m or more, and it's an interesting and lovely shade of blue. A seafoam green 1958 356 A GS/GT Carrera Speedster could bring $2.5m, and appears to still be stripped-down and set up for racing, as it would have been originally. And at the bottom of the heap is the 1974 911 Carrera 3.0 IROC RSR once driven by Peter Revson in the famous Roger Penske International Race of Champions. It should bring something north of $1m. Why is Seinfeld selling these rare and desirable Porsches? According to the comedian, it's simply time to send some of his collection "back into the world, for someone else to enjoy, as I have." Fair enough, although with the celebrity name attached to the auction, that enjoyment isn't going to come cheaply. Related Video: Gooding & Company Announces an Unprecedented Offering From the Esteemed Jerry Seinfeld Collection to Headline Amelia Island Auction Three highlights from the collection will be on display at the company's Scottsdale Auctions – the 1955 Porsche 550 Spyder, 1958 Porsche 356 A 1500 GS/GT Carrera Speedster and 1974 Porsche 911 Carrera 3.0 IROC RSR SANTA MONICA, Calif. (January 19, 2015) – Gooding & Company, the auction house acclaimed for selling the world's most significant and valuable collector cars with the tradition of presenting some of the greatest collections to ever come to market, is honored to announce a selection of consignments from The Jerry Seinfeld Collection to be sold at the Amelia Island Auction on March 11, 2016. A sampling of this exceptional collection will feature three historic Porsches at Gooding & Company's annual Scottsdale Auctions marquee beginning January 27, 2016.

Porsche 911 tops a list of must-have classics, but No. 2 is more of a surprise

No surprise here: In Europe, the Porsche 911 is the most sought-after classic car. Surprise here: Slip-streaming the 911 in the most sought-after chart compiled by the Car & Classic marketplace is the Ford Mustang. Using the Google search engine as a means to pick the winners, as well as the average prices achieved on the “Car and Classic” website, the venerable 911 was tagged 1.45 million times per month according to data stretching back 15 years. The number of 911Â’s sold though the C&C marketplace was 21,141, at an average price of 58,409 pounds, or $74,300. FordÂ’s pony car, still a popular choice for buyers in Europe, placed second on the list with 1.2 million monthly searches. The average sales price over 15 years was 31,107 pounds ($39,570), and the number of older Mustangs sold reached a total of 8,332. Models that also finished among the charted top 10 include the Land Rover Range Rover, the Corvette, the ultra-classic British favorite Jaguar E-Type and the BMW 3 Series. “Whilst a 1973 Porsche 911 Carrera 2.7 RS could set you back the best part of GBP500,000 ($636,000), there are many more affordable models, which bring the average sale price of a 911 on Car & Classic to GBP58,000 ($73,800) – the third highest average selling price of any make and model on the site,” explained Dale Vinten of Car & Classic. According to the site, the Jaguar fetched the highest average selling price: a whopping 89,000 pounds, or $113,000. But thatÂ’s peanuts compared to a Series 1 Roadster in excellent condition, said Vinten. For that, “you can expect to spend up to GBP250,000 ($318,000), A Series 2 or 3 will cost less, as they are not as desirable, but in decent condition you can expect to pay around GBP40,000-GBP50,000. Even a barn find 1969 E-Type Series 2 Roadster can set you back to the tune of GBP33,000 ($42,000)." Launched in 2005, Car & Classic is among EuropeÂ’s most popular classic car clearinghouses. It also runs a stand-alone auction site.