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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 A6

After dodging light traffic for more than 10 miles at speeds never exceeding 85 miles per hour, the left lane of the derestricted autobahn ahead of us finally opens wide. This is the opportunity we've been waiting for, and we bury the accelerator against its stop and hold it there. The transmission attached to the turbocharged four-cylinder of our 2016 Audi A6 drops a couple gears and begins an arduous battle against aerodynamic drag.
The sleek sedan cuts through the wind effortlessly up until about 125 mph, after which the speedometer needle slows noticeably as the outside world continues to blur. By 145 mph, there's no longer a discernible feeling of acceleration, yet the bright-orange speedometer needle continues its climb. Finally, the speedometer nearly reaches 160 before we are forced to firmly brake and return to saner speeds because of traffic looming ahead.
Automakers routinely host us in Europe and elsewhere to sample their wares in a much less restrictive driving environment. Which explains why we find ourselves standing in Dresden, Germany, a stunningly beautiful 800-year-old city along the Elbe River, overlooking Audi's latest executive express.

Audi Q7 E-Tron confirmed?

Rumors out of Australia say we'll be seeing a new variant of the Audi Q7 when the next-generation models bows in a few years. Joining the diesel and gas range will be the second production member of Audi's E-Tron family, which was introduced by the R8 E-Tron, but will actually see production in the form of the A3 E-Tron.
Speaking with Audi's managing director in Australia, Andrew Doyle, Car Advice asked what the future held now that the electrified R8 had effectively been shelved. "I don't see it [R8 E-Tron] as a major thing for us. We'll launch [locally] with A3, followed by Q7..."
The new Q7 will share its platform with the Volkswagen Group's two other large SUVs, the Porsche Cayenne and Volkswagen Touareg. But, as Car Advice is quick to point out, the Porsche and VW variants are slated for arrive next year - the second-generation Q7 won't arrive until 2015. Doyle refused to explain the discrepancy.