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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.

Company car offers in decline, but not at The Cheesecake Factory [w/poll]

As businesses look to keep high-level employees happy, it seems that use of company cars can still be an effective method, although fewer companies are employing it. According to Businessweek, only about 25 percent of companies offer company vehicles as a perk, while less than half give allowances for employees to use their personal vehicles for work purposes.
The report says that one business still in the practice of handing out company cars is The Cheesecake Factory, which offers the benefit to top managers. And we're not talking about some econobox, either. The article indicates the restaurant chain hands out BMWs on a three-year basis - although the company's own report says that the type of vehicle "varies with the executive's level."
Still, we mostly agree with the article's conclusion that money is the best way to keep employees or attract new ones, even if a corporate car is a big perk. What do you think? Let us know, in the poll below, whether a company car could sway you to work for a certain company (not just the Cheesecake factory, where the "Glamburgers" portion of the menu alone is enough to keep a guy hanging around).

BMW pays tribute with Z4 racing livery

Whether it's from Martini or BMW, there's something that makes us a little weak in the knees when we see a racing livery of dark blue, light blue and red stripes over white. Like the one on this BMW racer that will compete at Sebring next weekend. Presented alongside its spiritual predecessor at Amelia Island this weekend, this BMW Z4 GTLM has been decked out in a throwback version of the Bavarian automaker's iconic color scheme. It's a tribute to the BMW 3.0 CSL that scored the marque's first victory at the legendary Floridian endurance race 40 years ago and even wears the same number 25. It's as good a reason as any to bring back a racing livery we love, but then we'd probably take just about any occasion to appreciate it anyway. 40 years after the first win in Sebring: BMW presents anniversary design of the BMW Z4 GTLM for the 12-hour race. Munich (DE), 14th March 2015. On 21st March, BMW Team RLL will contest the 63rd staging of the legendary 12-hour race of Sebring (US) in the US state of Florida. The endurance classic is also the second race of the 2015 United SportsCar Championship (USCC). BMW Motorsport and BMW of North America celebrate a special anniversary on their return to Sebring this season: 40 years ago, BMW Motorsport got its first Sebring victory, with the BMW 3.0 CSL. In honour of that success, the two BMW Z4 GTLMs of BMW Team RLL will sport special designs as they compete on the "Sebring International Raceway". Car number 25 will carry the colours of the winning BMW 3.0 CSL of 1975. At an unveiling ceremony, which was part of the "Amelia Island Concours d'Elegance" in northern Florida, BMW of North America presented the anniversary design of the vehicles to the public for the first time. Many of the successful heroes of that time took the opportunity to attend the presentation. Forty years after the historic victory, then winners Brian Redman (US), Sam Posey (US) and Hans-Joachim Stuck (DE) were reunited on Amelia Island. Jochen Neerpasch, the first managing director of BMW Motorsport GmbH, and BMW Motorsport Director Jens Marquardt were also among the guests. They all had front row seats as current BMW Team RLL driver Bill Auberlen (US) completed the first presentation laps in the BMW Z4 GTLM with the anniversary design. 1975 was a significant year in the history of BMW in North America: BMW of North America was founded, and just a few days later came the historic first victory with the BMW 3.0 CSL in Sebring.