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Trump reportedly says he wants to wipe German cars off the U.S. map

BERLIN/FRANKFURT — A report that U.S. President Donald Trump has threatened to pursue German carmakers until there are no Mercedes-Benz rolling down New York's Fifth Avenue dented shares in the luxury car manufacturers on Thursday. An excerpt from German magazine Wirtschaftswoche's article, which cited several unnamed European and U.S. diplomats but did not include any direct quotes, could not be independently verified, while a U.S. Embassy spokesman in Berlin referred questions to Washington. The news and current affairs magazine said Trump had told French President Emmanuel Macron in April that he aimed to push German carmakers out of the United States altogether. Macron's administration in Paris declined to comment on the report. The Trump administration last week opened a so-called Section 232 trade investigation into vehicle imports, which could result in a 25 percent tariff on cars on the same "national security" grounds Washington used to impose metals duties in March. This could destroy exports by German carmakers, which control 90 percent of the U.S. premium market and are the biggest European Union exporters of cars to the United States. BMW owns Rolls-Royce, while Daimler has Mercedes-Benz, and Volkswagen controls Bentley, Bugatti, Porsche and Audi. Daimler, BMW and Audi declined comment. Porsche was not immediately available for comment. BMW shares were trading 0.5 percent lower at 0939 GMT, while Daimler and VW's shares were down 1 percent and 1.6 percent respectively, underperforming Germany's blue-chip DAX. Trump has railed against German carmakers before. And in early 2017, in an interview with German newspaper Bild, he said he would impose 35 percent tariffs on imported cars. At the time, the president called Germany a great car producer but said that the business relationship with the United States was an unfair one-way street. Germany's auto industry association VDA says its members exported 657,000 vehicles to North America last year, with total exports of vehicle components, cars, engines, as well as second-hand vehicles totaling 31.2 billion euros in 2016. Imports from the United States to Germany amounted to 7.4 billion euros, meaning a trade deficit of 23.8 billion euros the VDA's latest available figures show. However, German brands also have huge factories in the United States, where they built 804,000 cars last year, VDA said, providing jobs for U.S. workers. Berlin has reacted angrily to the U.S.

Bentley Bentayga V8 specs and pics revealed: It's the sporty one

The glitzy, opulent Bentley Bentayga has so far only been available with a twin-turbocharged W12 in the United States, but that's going to change now that the company has unveiled the V8 version. The Bentayga V8 uses a twin-turbocharged 4.0-liter V8 that, despite having two liters less displacement and four fewer cylinders, still makes a healthy 542 horsepower and 568 pound-feet of torque. Those numbers are only official for Europe, though, as numbers for the United States are being finalized. It's not a whole lot slower than the W12, either, with a 0-60 mph time of 4.4 seconds and a top speed of 180 mph. The W12 hits 60 in 4.1 seconds and has a top speed of 187 mph. What is a bit odd is that Bentley is marketing this V8 model as the "sporty" one, despite not being as fast as the W12. In support of the sporty identity, Bentley has endowed the V8 Bentayga with more aggressive looks inside and out with a black grille and unique dual exhaust tips, as well as an optional carbon fiber trim for the interior. To back up the looks, the Bentley Bentayga V8 also has the option of carbon-ceramic brakes. And they're truly massive with 17.3-inch rotors at the front, and 14.6-inch units in the rear. The front rotors are clamped by 10-piston calipers, too. Bentley claims the front brakes are the largest in the world. The V8 Bentayga also can claim a roughly 100-pound weight advantage compared with the W12, though whether you'll notice that in an SUV that weighs over 5,000 pounds is debatable. Pricing and availability haven't been announced for the Bentayga V8 yet. We would expect it to arrive at dealers by the end of the year. It will also likely cost less than the W12 model. Related Video: Featured Gallery 2019 Bentley Bentayga V8 View 10 Photos Image Credit: Bentley Bentley Crossover SUV Luxury bentley bentayga

Matthias Muller officially named VW Group CEO

While the vast number of rumors made it seem like a foregone conclusion, Porsche boss Matthias Muller has officially been named Volkswagen Group CEO to replace the recently resigned Martin Winterkorn. His contract runs through the end of February 2020, and until a replacement is found, Muller also gets to hang onto his old job as chairman of Porsche. At the same time, the VW Group Supervisory Board is announcing a massive structural reorganization across the entire company, with the new management model in place by the beginning of 2016. Contrary to previous rumors, Michael Horn remains as President and CEO of VW Group of America. The board wants a greater emphasis on brands and regions going forward, and the scale of this shift can be seen in the US. On November 1, VW Group business in the US, Mexico, and Canada is being combined under the leadership of current Skoda chairman Winfried Vahland. However contrary to previous rumors, Michael Horn remains as President and CEO of VW Group of America. Other brands are also seeing some significant changes mechanically. Porsche, Bentley, and Bugatti now fall under the Group's "sportscar and mid-engine toolkit." This means that the brands will start sharing standardized technical parts. A Chief Technical Officer across all of the company's brands will also start working toward future innovations. The new brand-centric view means the end of a group-wide production department. "Going forward, the brands and regions will also have greater independence with regard to production. So it follows that they should also hold the responsibility for these activities," Berthold Huber, interim Chairman of the Supervisory Board, said in the announcement. In a statement with the press release about his promotion, Muller promised to turn the company around after such an international crisis. He said: "My most urgent task is to win back trust for the Volkswagen Group – by leaving no stone unturned and with maximum transparency, as well as drawing the right conclusions from the current situation. Under my leadership, Volkswagen will do everything it can to develop and implement the most stringent compliance and governance standards in our industry." Matthias Muller appointed CEO of the Volkswagen Group Muller remains Chairman of Porsche AG until a successor has been found Matthias Muller (62) has been appointed CEO of Volkswagen AG with immediate effect.