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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.

Watch the Safari 911 do its thing off road

American racing driver Leh Keen spends his working hours in the No. 22 Alex Job Racing WeatherTech Porsche 911 GT America campaigning in the United SportsCar Championship. From the looks of this video, he spends his free time off-roading in a Porsche of his own specification: a 1981 Porsche 911 SC modded into an homage to the rallying 911s of the 1970s. Privateers began rallying the 911 not long after it went on sale 50 years ago, winning European events and the European Rally Championship as soon as 1967. After some good showings in the early 70s the carmaker took a 1978 911 SC to the Safari Rally in Africa going for the overall victory, but an encounter with a rock meant the team could only claim second place. Keen's Guards Red coupe channels that ancestor with a lift kit from Elephant Racing and a light rack and mud flaps shipped over from Europe. The engine gets a little more power thanks to intake modifications, some SSI heat exchangers, and a Danske exhaust. To help keep it together on the trail, the bumpers get pulled in and use steel bash bars for protection, and the side mirrors are aero numbers tucked into the A-pillar angle. The interior has been entirely redone. Keen apparently said "he wanted a 911 he could 'go anywhere' with," and the video above shows him doing just that. You can read more about the car in this month's Porsche Club of America magazine, check out Fatlace for the short story and a few pictures, or head to photographer Clint Davis' site for an eyefull of high-res shots of the beast. Related Video: News Source: PCAHQ via YouTube Porsche Coupe Luxury Off-Road Vehicles Performance Videos rally leh keen

Porsche would have entered F1 if Audi had blocked its Le Mans program

Go back a few years and you may have heard rumors of Porsche heading into Formula One. That never came to pass - or at least, it hasn't yet - but that doesn't mean that it wasn't close to happening. That's how committed to returning to top-level motorsport competition Porsche has become recently.
Autosport reports that just as Porsche was merging fully into the Volkswagen Group, Zuffenhausen was weighing its options for a factory racing program. Le Mans was its favorite, which makes sense, as it remains far and away the most successful constructor in the history of the famous endurance race. But the strategists at Porsche were worried that its new corporate overlords at Volkswagen wouldn't support two LMP1 programs and would favor Audi, which has positively dominated the modern era of endurance racing, coming second only to Porsche in the number of Le Mans victories it has scored to date.
Porsche's Plan B was reportedly to head into Formula One, although it isn't clear if the German automaker was intent on starting its own team, buying an existing one or merely providing engines to other teams. Porsche fielded its own cars in F1 in the late 1950s and early 60s, and returned as an engine supplier with TAG to power McLaren in the 1980s, powering Niki Lauda and Alain Prost to the World Championship in 1984 and 1985.