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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 details mooted about Porsche's '988' Ferrari rival

We could be on the verge of a big expansion at everyone's favorite rear-engined German sports car manufacturer. Porsche is allegedly preparing a four-car assault that will be led by a proper challenger to the Ferrari 458 Italia (sorry 911).
Code-named "988," the new model will reportedly feature a mid-engined layout and, get this: a flat-8. Autocar, which has the story, expects that engine to displace about 4.0 liters, while the car itself will draw styling inspiration from the 918 Spyder. 600 ponies and over 400 super-accessible pound-feet of torque should be on tap with the new mill.
Joining the 988's supposed eight-cylinder is a new family of four- and six-cylinder boxer engines that Autocar claims will have a focus on power density and fuel economy. These new mills will be available in naturally aspirated, turbocharged and hybrid forms.

Porsche recalling 4,400 911, Boxster and Cayman models over hood latches

Porsche has issued a "precautionary" and voluntary safety recall affecting some 4,400 sports cars across the globe. Here in the United States, the recall includes 1,382 911, Boxster convertibles and Cayman coupes, all of which are from model years 2014 and 2015.
Porsche will be replacing the lock bracket for the front cargo area (the frunk) after internal testing revealed that, while the vehicles meet "strength requirements," specific parts might not meet the company's quality standards throughout the vehicle's life. There have been no reports of accidents or injuries.
Owners of the affected cars will be notified within 60 days and will need to report to a nearby dealer for a free repair, which should take about 30 minutes.