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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.

VW stripped of Green Car Of The Year awards for Jetta, A3 diesels

In the wake of the ongoing VW diesel scandal, Green Car Journal has announced it will rescind the two Green Car Of The Year awards that the Volkswagen Group won with diesel vehicles that have been since been proven to not meet the stated emissions levels. The two vehicles are the 2009 VW Jetta TDI, which won in 2008, and the 2010 Audi A3 TDI, which won in 2010. Green Car Journal (GCJ) did not say if it would retroactively name any replacement winners. This is the first time in the history of the Green Car Of The Year Awards that the honor has been taken away from the winner. In a statement announcing the change, GCJ publisher Ron Cogan wrote that, "this award rescission should not cast a negative light on advanced diesel technology in general. Many diesel models from a variety of auto manufacturers meet EPA and CARB emissions standards, bringing with them higher fuel efficiency, decreased petroleum use, and lower carbon emissions – all important environmental goals." VW AND AUDI RETURNING GREEN CAR OF THE YEAR® AWARDS, VEHICLES DEEMED INELIGIBLE SAN LUIS OBISPO, Calif., Sept. 30, 2015 – Green Car Journal is rescinding the Green Car of the Year® awards previously honoring the 2009 VW Jetta TDI and 2010 Audi A3 TDI, the first time this has occurred in the award program's decade-long history. Audi of America President Scott Keogh has informed Green Car Journal that Audi will return its 2010 Green Car of the Year® award in the wake of Volkswagen Group's admission that it deliberately deceived government authorities about emissions from the Audi A3 TDI. Volkswagen of America has also informed Green Car Journal it will return its 2009 Green Car of the Year® award for the VW Jetta TDI. "Rescinding the Green Car of the Year® awards for the VW Jetta TDI and Audi A3 TDI is unfortunate but appropriate," said Ron Cogan, editor and publisher of the Green Car Journal and CarsOfChange.com. "These models were selected as Green Car of the Year® above others for compelling reasons, including high fuel efficiency, reduced carbon emissions, a fun-to-drive nature, and the ability to meet 50 state emissions requirements with advanced diesel technology." However, VW Group has now admitted that its software programming intentionally caused in-lab emissions testing to read significantly lower nitrogen oxide emissions than these vehicles actually produced on the road.

Audi investing $30.3 billion through 2018 for product expansion

How does Audi plan to reach two million units in annual sales and pay for the 11 new models it's adding to its lineup - an expansion that may include models named SQ2, Q9 and F-Tron? By increasing its investment to 22 billion euros ($30.3 billion US) between now and 2018. That figure represents an increase of about 500 million euros over the previously planned outlay, according to a report by Automotive News, and that could be due to Audi wishing to goad the momentum that pushed it to 1.5 million annual sales two years ahead of schedule.
It's also about staving off the challenges from BMW and Mercedes-Benz. Now that BMW has been able to turn some of its attention away from its "i" series of Megacity cars, it will reportedly spend more than planned in 2014 as it continues the rollout of ten all-new vehicles and 15 new-generation vehicles through the end of next year. Mercedes, having been dropped to third in the sales race, is preparing to add 13 new cars over the next six years.
Audi's money is going into technology, into product like the next-generation TT and the Q1 and production expansions and upgrades all over the world. The expenditure represents just under a fourth of Volkswagen's 84.2 billion-euro ($115.7 US) outlay devoted to taking the number-one global automaker title away from General Motors and Toyota by 2018.