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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.

Are you the 2017 Porsche 911 GTS Targa?

Our spy shooters have caught a strange, mash-up beast wearing a Porsche badge. Superficially, this is a facelift for the 911 Targa that features new bumpers, door handles and a redesigned engine cover, along with new light graphics for the front and rear lights. But have a look around back, and you'll find two inboard exhaust pipes; they aren't right up against each other as on the 911 GT3, but are spaced about five inches apart. The shooters said the first time they saw that arrangement was last winter, on a convertible during testing. We saw it again more recently in spy shots of what was thought to be the 911 GTS coupe prototype at the track. But when the production GTS arrived, it wore the traditional quad-pipe at the corners. The theory put forward by the spy photog: the current GTS has a naturally aspirated engine, but facelifted prototypes they've been seeing all have turbo engines, so this could be the facelifted Targa coming in 2017, after the 991-model 911 gets a refresh. In that case, the GTS coupe prototype at the track would have also been a post-refresh, turbo-engined GTS. It's only a hypothesis, but more than one outlet has reported that Porsche is going all-turbo for the updated 2015 models – the new exhaust position and those 911-Turbo-like vents could be their identifiers. We expect to find out when the lineup is unveiled at the 2015 Geneva Motor Show, possibly codenamed 992 instead of 991.2.

Driving the Chevy Corvette Z06 and Porsche 911 Carrera T | Autoblog Podcast #551

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Green Editor John Snyder and Associate Editor Joel Stocksdale. We talk about the wide variety of the cars we've been driving, starting with the Chevrolet Corvette Z06 and Porsche 911 Carrera T. Then we discuss the more powerful 2019 Mazda MX-5 Miata, our long-term Honda Ridgeline and our week with the Hyundai Ioniq PHEV. Finally with Pebble Beach on our minds, we preview the Concours d'Elegance.Autoblog Podcast #551 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2019 Chevrolet Corvette Z06 2018 Porsche 911 Carrera T 2019 Mazda Miata 2018 Honda Ridgeline 2018 Hyundai Ionic Plug-In Hybrid Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: