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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.

New Bentley boss nixes any new sports cars in its money-losing lineup

Adrian Hallmark took over the helm at Bentley on February 1 this year. Volkswagen poached him from Jaguar, where he headed the brand's global strategy. Or perhaps we should say re-poached him, since Hallmark served as Bentley's board member in charge of sales and marketing from 1999 to 2005, and helped guide the original Continental GT to market. He's now responsible getting Bentley in better shape financially and sales-wise, and positioning it for growth. Among the products necessary to do that, Hallmark recently told Autocar that flashy coupes won't cut it. "I'll tell you what we won't be building," he said, "and that's sports cars." That means we can forget about the gorgeous EXP 10 Speed 6 coupe that had a rumored place in the lineup after a sub-Bentayga CUV, and the EXP 12 Speed 6e battery-electric convertible. Hallmark cited a few issues with the segment, the first being that the segment hasn't yet recovered from the recession, and the buyer demographic that's left goes up in age every year, clearly a losing game. The kinds of younger buyers who would buy Bentleys, athletes and entertainers, are deterred from the purchase by contractual limitations like injury clauses or aversion to paparazzi photos. As well, in China, wealthy buyers get SUVs or limousines, but Hallmark believes Bentley hasn't adopted the the proper strategy there to take advantage. This is far more than about sports cars for Bentley, though; a recent article in German newspaper Handelsblatt outlined a number of situations the carmaker needs to rectify, including the finding that Bentley's "losing money hand over fist instead of racking up the hefty margins more typical of the class." A German study claimed that whereas Ferrari makes around $80,000 on every car it sells, and Porsche makes a little more than $19,000 on each car (last year it was a little more than $17,000) Bentley loses a little more than $19,000 on each unit. The English manufacturer has posted an operating loss of roughly $92 million through the first six months of 2018, the latest figures in a decline that began in 2014. That financial timeline, however, coincides with Bentley's $1.1B investment in new technologies, which the carmaker cites as the reason for profitability woes.

Bentley debating production of either Speed 6 or smaller SUV

A fifth model is coming to the Bentley range, and after the EXP10 Speed 6 concept dropped jaws and a whole lot more at this year's Geneva Motor Show, observers expected the luscious green coupe to get the go-ahead. Yet, since January, Bentley has publicly mulled a new SUV smaller than the coming Bentayga that would "to attract more women and younger buyers to the brand." Now, the firm's marketing director is in the midst of a global research to work up a business case for each model that will decide the matter. The growth of the SUV market and the success of more affordable models forces Bentley to consider the potential money stacks provided by an even more price-friendly entry. The SUV is helped by the fact that it could be built on the same MSB platform that would support a production version of the EXP10 Speed 6. It looks like this is another cage match between heart and incontrovertible business case, yet a nod to the SUV wouldn't necessarily kill the Speed 6, only delay it. The investment for a fifth model begins after the Bentayga goes on sale at the end of this year, with 2020 or 2021 suggested as the production date for whichever new model comes next. There's no reason the Speed 6 couldn't come after that, even though we - and a bunch of potential customers - know the model we'd choose to build right now. According to Autocar, it might take up to two years for a decision. And either model will be draining enough of the company's time, talent, and resources as to mitigate a super-high-performance Continental variant, as we reported earlier. Related Video: Featured Gallery Bentley EXP 10 Speed 6 Concept: Geneva 2015 View 9 Photos News Source: AutocarImage Credit: Drew Phillips / AOL Bentley Coupe Crossover SUV Concept Cars Luxury Performance bentley bentayga bentley exp 10 speed 6