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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 to unveil X4 in March

It's been about half a year since BMW unveiled the X4 concept in Shanghai. But if you've been waiting for news on when it will reach production, the latest intel indicates it'll be announced next March.
Just when in March? That's the strange part. Inautonews reports having been told by BMW that the new X4 will be announced on March 14. So, the Geneva Motor Show, then? Not quite: although that show will still be going on then, the doors open to journalists like us on March 4, not 14. So either someone has got some details mixed up, or BMW - for some reason - is planning on waiting until after Geneva to reveal the production X4.
Whenever it does, we'll be looking at a slantback version of the X3, much like BMW did with the X5 and X6, giving Bavaria a rival to the Range Rover Evoque and Porsche Macan.

Acura NSX, a pair of 2 Series Gran Coupes and a time machine | Autoblog Podcast #628

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor James Riswick and Road Test Editor Zac Palmer. This week, they're driving a 2020 Acura NSX, two versions of the BMW 2 Series Gran Coupe (M235i and 228i) and the updated 2020 Honda Civic Si. Then, the gang gets to talking about what they'd drive in 1975 and 1985, along with plenty of other tangents. Finally, they wrap it up with news about the upcoming 2021 Acura TLX Type S and the fate of this year's Woodward Dream Cruise. Autoblog Podcast #628 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2020 Acura NSX 2020 BMW 2 Series Gran Coupe (M235i and 228i) 2020 Honda Civic Si Cars we'd buy if it were 1985, and 1975 2021 Acura TLX to revive Type S Is the Woodward Dream Cruise canceled? Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: