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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.

Proof the world revolves around the Porsche Cayman

Or at least the world revolves underneath the Porsche Cayman, in the latest video showing off Stuttgart's mid-engine coupe. Porsche put an Easter egg in the world that spins triple-time, a "famous relative" of the Cayman hidden somewhere on the marble planet, and gave a Porsche Martini bag to one of the first 50 people who could point it out.
With more than 300 views there's no chance you'll win the bag, but you can still go on the treasure hunt in the video below.

Porsche rolls out new 919 Hybrid at racing gala

That Porsche is returning to Le Mans next year with a top-tier LMP1 entry is no news - we've known that for some time. We've even seen pictures of the car in question undergoing testing at various racetracks across Europe, been told who'll be driving it and given some basic parameters of what will make it go. We just haven't known what to call it, but now we do.
In detailing its full endurance racing program for next year at its Night of Champions in Weissach, Porsche has revealed that its new LMP1 racecar will be called the 919 Hybrid. So, something like the 918 Spyder, only one faster. With a four-cylinder engine and a pair of electric motors, the 919 Hybrid will be taking on the top class at Le Mans next year, with a compelling roster of drivers on the docket: along with Mark Webber, Timo Bernhard, Romain Dumas and Neel Jani, Porsche has assigned its works driver Marc Lieb and F1 test driver Brendon Hartley to the effort. But that's not all Porsche has in store.
The factory is also supporting teams that will campaign the 911 RSR in the FIA World Endurance Championship as well as the United SportsCar Championship here in the US, taking Porsche off the pit wall and right in the race seat for next year as part of a comprehensive new racing program, details of which you can read in the press release below.