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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.

2016 Audi TTS

We recently drove the Audi TT, and although we wish it were radically entertaining instead of merely very fun, it's nevertheless a sharp coupe that vaults ahead of its predecessor with an inspired interior and eager handling. That car will be precursor to this TTS when it gets here a year from now, with the TTS adding adjectives like "more" and "better" to just about everything found on the base coupe. With the standard car having already put on such a fine edge, we wheeled the TTS on Spanish roads and at the Ascari race track to find out how much better and higher-performing the S will be.
Driving Notes
As of this writing, today's TTS commands an $8,350 premium over the TT. Assuming a commensurate gap is carried over into this next generation model, that supplemental dosh will get you 310 horsepower and 280 pound-feet of torque instead of 230 hp and 273 lb-ft in the standard TT. That would mean more for your money, too, since the gap between the current TT and TTS is 54 hp and zero lb-ft of torque. To achieve the new numbers, the 2.0 TSFI engine from the TTS benefits from upgrades like sturdier valves, revised aluminum pistons and stronger connecting rods with new bearings, a reinforced crankshaft and a high-performance intercooler. The amplified brawn rips 0.7 seconds off the 0-60 mile-per-hour time, getting you there in 4.6 seconds.

Tuner may sue Monaco hotel for damage caused by valet's injury

It's relatively common to hear about unethical valets taking a joyride and wrecking high-performance cars. However, a recent 'accident' in Monaco might be one of the weirdest cases ever. Of course, now the lawyers may get involved.
Andreas Belzek, owner of tuning firm Prior Design, was driving his highly modified, black with gold pinstripes, widebody Audi R8 (pictured above) to the Hotel de Paris in the famously rich city on the shores of the Mediterranean. Upon arriving, he was going to check in but wanted to park the supercar himself, which was against the hotel's rules. He protested to the valet but eventually gave in and handed over the keys. Then the problems began.
The Audi barely moved before the valet herniated a disk in his back and couldn't leave the car. The police and paramedics arrived to the scene, which had to be quite a crowd in a city as tiny as Monaco. To get the guy out, the rescue crew had to hook him to a special hoist and carry him out, according to Germany's Focus Online. Belzek claims the efforts to save the man caused roughly 10,000 euros ($13,622) in damage to the car's carbon fiber, Alcantara and Nappa leather interior.