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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.

Daughter has great taste, gives stepdad Porsche 914 of his youth

Children require a ton of sacrifices; even people without kids know that. Whether it's the time to watch a baseball game or the money just to get there, parents have to give up something for the betterment of their offspring. Of course, once a child grows up, it's finally possible to repay mom and dad for all of their hard work. In the case of Kristin Russell and her stepdad, Dave, that involves a surprise 1973 Porsche 914.
Before he got married, Dave had a sweet, white 914. He even had the money saved up to restore it, but spent the cash on the wedding instead. The Porsche languished in the garage until Dave eventually parted it out and sold it off. Years later, Russell wanted to do something to thank her stepdad for all of the things he had done for her and her mom. The only fitting thank you was an identical 914 to the one that he gave up. Scroll down to watch Dave's reaction of getting his dream car as a surprise Father's Day gift.

Recharge Wrap-up: Porsche 918 Spyder named Robb Report Car of the Year, cheap E85 in MN

Robb Report has named the Porsche 918 Spyder as its 2015 Car of the Year. The luxury lifestyle publication chose the powerful hybrid for being "the rarest, fastest, quickest, and most groundbreaking production Porsche ever," says Robb Report automotive consultant Robert Ross. About 140 judges were involved in the decision, which was announced at the North American International Auto Show in Detroit this week. Read more at Robb Report. Samsung SDI brought four new batteries to the Detroit Auto Show. One is a 120-Ah battery with a range of over 300 kilometers (186 miles). A second is interoperable between plug-in hybrid and all-electric vehicles. A third is a compact hybrid battery that offers smaller packaging without losing capacity. The fourth is a low-voltage system meant to replace or work alongside lead-acid batteries and improve fuel economy. Read more at The Korea Economic Daily, or in the press release below. A relationship between a Minnesota ethanol producer and retailers means cheap E85 for customers. The DENCO II ethanol plant began blending its own E85 fuel in 2011, and now sells directly to 45 gas stations. DENCO II sets the pricing for the fuel, and has been running a promotion for certain retailers to sell E85 for about a dollar cheaper than E10 gasoline. That promotion includes a Cenex station in Alexandria, MN selling E85 for just 85 cents per gallon. The result has been success for both the producer and gas stations, with customers having more cash to spend on retail goods when they go inside to warm up. Read more at Ethanol Producer Magazine. Samsung SDI, targeting the North American market with automotive batteries and high-tech materials ? Display batteries and materials for automobiles at NAIAS from January 12, 2015 ? Introduce high capacity battery cells providing 300km driving distance per charge ? Present Non-Painting Metallic Material, the winner of SPE Automotive Innovation Award ? Samsung SDI, the world-leading material and energy solution provider introduced automotive batteries and engineering plastic materials targeting the North American market at the Detroit auto show. Samsung SDI showed off automotive batteries for electric vehicles as well as advanced materials for the interiors and exteriors of conventional vehicles at the 2015 North American International Auto Show.