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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 apparently still undecided about future i project electric vehicles

Coaches like to say that there's no "i" in team. At least one BMW executive is saying the company's not sure if there are any more "i"s in its near future. BMW executive Harald Krueger indicated that the German automaker is holding back on any i-project plans besides the i3 city car and i8 plug-in hybrid sports car until the company gets a better idea of how those models are selling, Reuters says. Bimmer has spent about $2.7 billion on the plug-in sub-brand and says it's taken more than 11,000 orders for the i3 since the model was first shown off at German dealerships last fall. Additionally, BMW has no plans to make the i3 in China (BMW makes versions of its 3- and 5-series sedans there). As we all know, should the brand expand, BMW has already trademarked the "i" badge from i1 through i9. There are a lot of mixed messages on the BMW i project front. For example, early indications are that i3 demand has been higher expected. BMW North America chief Ludwig Willisch indicated earlier this month that US demand for the electric city car, at least for the near future, will likely to outstrip supply. Bimmer dealers in the US will start getting the $41,350 i3 in May. Additionally, fellow BMW executive Jacob Harb said the company was already starting to work on its next EV, to be larger than the i3, though he didn't give many details and was later somewhat refuted by another BMW spokesman. So stay tuned. Featured Gallery 2015 BMW i8 View 22 Photos News Source: Reuters Green BMW Electric i8 bmw i5 harald krueger

Popular Mechanics Breakthrough Awards honors GM Super Cruise, BMW i3

Our friends at Popular Mechanics have announced the winners of their 2013 Breakthrough Awards, which honor innovations and new technologies in a variety of fields, ranging from medicine to electronics to space travel. Among the winners were a pair of automakers.
The BMW i3 was named one of PM's product breakthroughs, and while the diminutive city car has a range comparable to other electrics, Popular Mechanics was impressed the i3's use of carbon-fiber-reinforced plastic, which allows the i3 to tip the scales at just 2,800 pounds. But the i3's space-age materials wouldn't have been such a smash if it were priced beyond what the general public could afford. BMW's ability to offer a vehicle with such an advanced construction for around $42,000 (nearly half the price of the Cadillac ELR and only about $7,000 more than a Chevrolet Volt or Ford Focus Electric) is wildly impressive and speaks volumes about the future of ultra-light composites in the auto industry.
The other big winner comes from General Motors, which was named an Innovator this year for its semi-autonomous Super Cruise technology that's currently being tested on a Cadillac SRX. The technology, which we've reported on before, combines adaptive cruise control and lane centering into a super system that will allow hands-free driving under certain conditions.