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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.

Volvo S60 Polestar concept plays in the snow with Mercedes C63 AMG

Chris Harris took to a snowy stretch of tarmac to get a fingertips-on-the-wheel feel of the Volvo S60 Polestar concept. Harris says the turbocharged sedan with 508 horsepower and 424 pound-feet of torque - and a manual transmission - is "a study to see if Volvo can get back into the fast-car market." The Polestar S60 concept, one of which was already purchased for $300,000 by a private buyer, is still making the publicity rounds because even Volvo's Chinese owners realize that, as Harris says, "Volvo sold more cars because it made fast cars" like the old 850 T5 Wagon that stormed the British Touring Car Championship in the 1990s.
For reference, Harris compares the blue wonder to the Mercedes-Benz C63 AMG and its 487 hp and 442 lb-ft. The question is, were Volvo to get the price of a production version of the S60 Polestar to climb way down from its 200,000-pound sticker, could it be worthy competition to the established giants?
You can watch Harris divine the answer via a lot of drifting through the snow and a drag race in the video below.

Chris Harris and David Coulthard wring out a Mercedes Fintail at the N"urburgring

If there's one thing we've learned from the latest video from Drive, it's that the combination of Chris Harris and David Coulthard will produce some very quotable moments. Take this exchange, for example.
DC: "We are by some way the slowest."
CH: "But we're in a class of three cars, apparently."