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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.

Audi CEO's Dieselgate arrest threatens fragile truce among VW stakeholders

FRANKFURT — The arrest and detention of Audi's chief executive forces Volkswagen Group's competing stakeholders to renegotiate the delicate balance of power that has helped keep Audi CEO Rupert Stadler in office. Volkswagen's directors are discussing how to run Audi, its most profitable division, following the arrest of the brand's long-time boss on Monday as part of Germany's investigations into the carmaker's emissions cheating scandal. The supervisory board of Audi, meanwhile, has suspended Stadler and appointed Dutchman Bram Schot as an interim replacement, a source familiar with the matter said on Tuesday. Schot joined the Volkswagen Group in 2011 after having worked as president and CEO of Mercedes-Benz Italia. He has been Audi's board member for sales and marketing since last September. The discussions risk reigniting tensions among VW's controlling Piech and Porsche families, its powerful labor representatives and its home region of Lower Saxony. VW has insisted the development of illegal software, also known as "defeat devices," installed in millions of cars was the work of low-level employees, and that no management board members were involved. U.S. prosecutors have challenged this by indicting VW's former chief executive Martin Winterkorn. Stadler's arrest raises further questions. Audi and VW said on Monday that Stadler was presumed innocent unless proved otherwise. Munich prosecutors detained Stadler to prevent him from obstructing a probe into Audi's emissions cheating, they said on Monday. Stadler is being investigated for suspected fraud and false advertising. Here are the main factors deciding the fate of Audi. Background: Audi's role in Dieselgate Volkswagen Group was plunged into crisis in 2015 after U.S. regulators found Europe's biggest carmaker had equipped cars with software to cheat emissions tests on diesel engines. The technique of using software to detect a pollution test procedure, and to increase the effectiveness of emissions filters to mask pollution levels only during tests, was first developed at Audi. "In designing the defeat device, VW engineers borrowed the original concept of the dual-mode, emissions cycle-beating software from Audi," VW said in its plea agreement with U.S. authorities in January 2017, in which the company agreed to pay a $4.3 billion fine to reach a settlement with U.S. regulators.

Bentley Continental GT takes off with Breitling Jet Team

Of all the automakers that have co-branding deals in place with watchmakers, the relationship between Breitling and Bentley ranks among the longest-standing. But aviation aficionados will also point out that Breitling – ever the favorite of pilots – also supports a team of aerobatic pilots called the Breitling Jet Team. Now the three have come together to create a special run of luxury automobiles. The Bentley Continental GT Speed Breitling Jet Team Series, as you might have guessed, is based on the Continental GT Speed that stands as the fastest model Bentley has ever offered. Which is a good starting point, because despite the "jet" part of the name, they have not actually put a turbine engine under the hood. Jaguar (among others) has tried that, and it has yet to work out. What sets apart this special series is entirely cosmetic, carried out by Bentley's Mulliner customization department. It has a two-tone paint job of Hallmark and Onyx (which may look purplish in the pictures but the scheme is listed as silver and black in the Bentley catalog), matching the livery on the jets themselves. It's accented with Breitling's signature yellow. The color scheme continues inside, with carbon-fiber trim, more yellow accents, and little thematic Easter eggs throughout. Whether the result looks like a promotional vehicle or a sleek take on the vehicle of choice for every entrepreneur who strikes it big, that's a matter of taste. And if you want to see one up close, you'll have to go to Seattle at the end of July. That's where Bentley will present the only seven examples it will make to their owners. The presentation will be made individually by the pilots at the Boeing Seafair Airshow – but only after what's sure to be the ride of their life on board one of the team's L-39 Albatros jets. BENTLEY CONTINENTAL GT SPEED BREITLING JET TEAM SERIES LIMITED EDITION - Seven limited edition Continental GT Speeds inspired by famed jets - Handcrafted models take Mulliner customisation to new heights - Continental GT Speed is fastest production Bentley ever - Models to debut at Boeing Seafair Airshow, Seattle, July 31 (Crewe, 30 June 2015) Bentley is taking its fusion of luxury and performance to new extremes with the launch of the Continental GT Speed Breitling Jet Team Series. This exclusive series is limited to just seven cars, each inspired by one of the seven Breitling Jets.