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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's latest design is a table clock

Audi and Porsche have more things in common than we can count. They're both German, of course, and have both enjoyed considerable winning streaks at Le Mans. Both have a tendency to put their (often turbocharged) engines at one extreme of the car or another, driving either the closest wheels or all four. Both tend to follow a brand-wide evolutionary design approach, focusing their energies instead on the engineering that goes under the bodywork. Both now find themselves under the same corporate umbrella, and now that they are, Audi has followed Porsche's lead in setting up its own design consultancy.
Like Porsche Design, Audi Design is now taking on projects for all manner of clients, from pianos to foosball tables. In this latest collaboration, Audi has designed a table clock for Munich-based watchmaker Erwin Sattler. The table-top clock houses a high-frequency mechanical movement in a foot-tall glass case that lets you see the intricate clockwork, held in place by two ruthenium clasps.
Unveiled in Switzerland at the Baselworld watch and jewelry show, the clock is now available to order. But while prices haven't been announced, don't expect it to come cheap: other Erwin Sattler table clocks typically sell for upwards of $10,000, and we wouldn't expect the new design to come at a discount. Scroll down below for the official press release.

Audi Prologue concept drives itself to CES with updated powertrain

What's the point in crafting a one-off concept car if it only gets to stand in the spotlight at one show? That's what automakers have been asking themselves recently, and the answer has, generally speaking, been to repaint their show cars, give them a bit of new tech and put them back on center stage. And the latest to do so is Audi, which has given its Prologue concept a new lease on life. The Prologue was originally unveiled at the Los Angeles Auto Show less than two months ago, showing the way forward for the future of Audi design, in an elegant coupe form that looked ready to take on the Mercedes S-Class Coupe. We even got a chance to drive it around the streets of LA, and when we did, we marveled at the concept's advanced infotainment system that caters a range of personal preferences according to who's on board. "It's easy to see how this could even reach for chauffeured, or autonomously driven vehicles" in the future, we said at the time. And it turns out Audi was on the same page. At CES this year, Audi has brought back the Prologue concept, given it a darker coat of grey paint, a grey-tone interior (instead of the previous shades of brown and tan), a fresh set of wheels and equipped it with the autonomous tech the German automaker has been at the forefront of developing. Though other automakers have been fitting their self-driving prototypes with all-electric powertrains, Audi kept the 4.0-liter twin-turbo V8 in place – but fitted it with a hybrid assist to drive output up from an already prodigious 605 horsepower and 516 pound-feet of torque to an even more impressive 677 hp and 701 lb-ft, dropping the 0-62 time down to 3.5 seconds. Now that's the kind of "piloted driving" tech (as Audi calls it) that we can get behind.