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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 preps 'Centennary Specification' for all models built in 2019

For the entirety of Bentley's 100th year in business, the English carmaker will adorn its products with a Centenary Specification. The package consists of unique badging with specially developed Centenary Gold badge highlights, available Centenary Gold thread for the headrest logos, contrast stitching and cross stitching, and a "centenary welcome light" outside the vehicle. The in-house craftsmen have also developed unique embroidery. Bentley says the gold hue was inspired by metalwork on vintage models like the 1919 EXP 2 (pictured, red and silver) and 1929 Birkin Blower (pictured, green), the latter one of the company's Le Mans winners driven by Sir Henry "Tim" Birkin. The hue possesses an "elegant warm tone and a deep fluid shadow." The steering wheel badge, key fob, shift knob, and wheel center caps feature the tinted ring. The "B" badge on the radiator surround also features "1919-2019" script, and that script is found on the tread plates, too. For those who don't know, eponymous founder Walter Owen Bentley's engineering career began with locomotives — which he loved more than cars at one point — and motorcycles, before settling on automobiles. He bought his first car in 1910, a French DFP, and after improving it himself, set a 10-lap record at the Brooklands circuit. In 1912 he opened a DFP franchise with his brother Horace Milner as Bentley & Bentley, and further upgraded the car with a new piston design that was 88 percent aluminum and 12 percent copper. The Royal Naval Air Service adopted Bentley's piston design and Bentley's re-designed Clerget airplane engines, dubbed the Bentley Rotary. After the war, Bentley refocused on cars, and in 1919 released the 3-Litre, which boasted features like a cross-flow head, overhead cams working four valves per cylinder, and twin plugs in each cylinder. The company delivered the first production model in 1921, then went racing and won the second edition of Le Mans in 1924. That is how Bentley began to become "Bentley, ahem ...", and here we are. Next year, on July 10, the company plans to celebrate the feat appropriately. Related Video:

Volkswagen profit jumps as it warns of a cooling auto market

FRANKFURT, Germany — Volkswagen says its profits jumped 44% in the third quarter thanks to a more profitable mix of vehicles in its lineup but warned that global car markets are slowing more than expected and lowered its forecast for annual sales. After-tax profit rose to $4.42 billion (3.98 billion euros) as revenues rose 11% to $68.27 billion (61.42 billion euros). The sales margin of 7.8% exceeded the goal of 6.5-7.5% as vehicles bringing higher profits took a larger share of sales. The Wolfsburg-based automaker pointed to the headwinds facing the industry by saying that it expects "vehicle markets will contract faster than previously anticipated in many regions of the world." It said sales would be "on a level" with last year's record of 10.8 million vehicles. Previously it had expected a slight increase. The company said its profits would be in the lower end of its forecast range. Global automakers are facing a slowdown in sales amid disputes over trade and from pressure in the European Union and China to develop and sell low-emission vehicles that require heavy investment in new technology. Ford and Renault have issued profit warnings in recent days, while Daimler, maker of Mercedes-Benz luxury cars, lost money in the second quarter and is expected to outline a cost-cutting strategy for investors on Nov. 14. Volkswagen is leading the push into electric vehicles in Europe by launching its ID.3 battery-powered compact car at prices it says will make zero local emission vehicles a mass phenomenon. The company was able to increase earnings in the quarter despite an 18% rise in spending on research and development.