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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.

BMW planning to stretch i3 into i5 family hauler?

If you're sweet on the new BMW i3 but wish it had more space to carry people and stuff, we've got good news for you. According to Autocar, BMW is planning on stretching the platform that underpins the i3 to create a new model, expected to be called i5.
The stretch job would add an extra four inches of legroom in the back and another six inches of rear overhang to the benefit of cargo space. The result would create a vehicle longer than the current Mini Countryman - although the next Countryman is likely to be even larger. As Autocar points out, the process of extending the i3's composte passenger cell likely wouldn't be as difficult or cost-intensive as lengthening a conventional metal chassis, although the rear doors would need to be re-engineered.
Whether the resulting vehicle would more closely resemble a hatchback, wagon, minivan or something in between remains to be seen, however BMW is said to have already registered the nameplates i1 through i8, signalling that the possibility is at least there to add more members to its new EV family.

BMW against Merkel's female board member quota in Germany

There may soon be more women in power positions in the world of German business under a proposed law from Chancellor Angela Merkel's coalition government. If passed, the law would force large, publicly traded corporations to have female members make up at least 30 percent of their supervisory boards (which are responsible in part for business strategy) by 2016. In addition, all companies would have to increase the female proportion on their management boards, which conduct regular business. The law seems likely to pass next month. "We've decided to do this and it will happen," said Merkel in a speech about the new rule, according to Bloomberg. Women currently have just six percent of management board seats in the country. Big businesses in the country aren't on board with proposed law, including automakers. "BMW as a company doesn't believe in quotas," said spokesperson Jochen Frey to Bloomberg. "While we hold that opinion, we want and strive for diversity in our workforce in terms of gender, ethnicity and age." Currently, 25 percent of Bimmer's supervisory board is female, a bit higher than the national average in Germany of 22 percent. German car companies are hardly alone when it comes to having a paucity of women in positions of power. Honda only added its first female member to the automaker's board of directors earlier this year, and Toyota and Nissan showed similarly low numbers. A 2013 list from Fortune ranked many of the most powerful women in the auto industry as coming from North America.