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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.

Season 9 of Comedians in Cars Getting Coffee teases us with BMWs and Volvos

Jerry Seinfeld's successful online show Comedians in Cars Getting Coffee is heading into its ninth season, returning January 5th. It should be no surprise that the list of actors and comedians is impressive, with Kristen Wiig, Christoph Waltz, and more making appearances. Seinfeld has lined up an equally impressive list of cars for the new season. Porsche, BMW, and Volvo all have beautiful machines lined up to shuttle Seinfeld and his guest to different coffee shops. As always, it's a mix of light humor packed into a relatively short and, most importantly, free video. Catch up on the previous eight seasons now on Crackle. Related Video: News Source: YouTubeImage Credit: YouTube Celebrities Humor Acura BMW Cadillac Porsche Volvo Convertible Coupe Luxury Performance Classics Videos Sedan trailer jerry seinfeld comedians in cars getting coffee seinfeld

BMW 5 Series Gran Turismo won't be a one-and-done model

The BMW 5 Series Gran Turismo seems like a model without a real segment to fit into. It doesn't quite match the mold for the swoopy four-door coupe niche like the Porsche Panamera or the brand's own 6 Series Gran Coupe. However, the vehicle isn't really a station wagon to appeal to those utilitarian buyers, either. Despite this identity crisis, BMW is reportedly prepping another GT for the next-gen 5 Series platform. According to German magazine Auto Motor und Sport, the 5 Series GT somehow has been a big enough sales success in the US and China to warrant another model. The next one would allegedly arrive in 2016, which is the about the same size as the future 5 Series sedan. The magazine speculates the new GT could lose about 221 pounds in the transition and be offered with four- and six-cylinder powertrains, plus a plug-in hybrid with an electric driving range estimated at around 19 miles. Globally, China is actually the larger 5er GT market than the US. According to IHS senior analyst Stephanie Brinley to Autoblog, the variant sold 21,089 units worldwide in 2013 (2014 is still being tabulated), and that represented about 5.7 percent of the 370,930 total sales for the 5 Series. China bought 42 percent of the world's GTs, compared to about 10 percent of the mix from the US. Europe, meanwhile, took about 29 percent of them that year. While the GT's sales figures make up just a fraction of the overall 5 Series, the variant is still a moneymaker for BMW, and IHS forecasts a second generation, too. "The 5 Series range as a whole is stronger for having this product, and it's very likely that the company's profit margin is higher on the GT, even with the cost of some dedicated sheetmetal and tooling," said Brinley. Featured Gallery 2014 BMW 5 Series Gran Turismo View 32 Photos News Source: Auto Motor und SportImage Credit: BMW Design/Style BMW Hatchback Wagon Luxury Sedan bmw 5 series gt bmw 5 series gran turismo