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How tariffs in China could cause a meltdown in the American South

While BMW is clearly a German company, the crossovers that are exceedingly important to it are actually made in Spartanburg, South Carolina. And more than that, the Spartanburg plant (physically located in the town of Greer) is where the corporate know-how and capability for those vehicles is concentrated. These are the vehicles – specifically, the BMW X3, X4, X5, X6, X7 – that drove record growth for the company in 2018, according to BMW. But whatÂ’s most notable about BMW Group Plant Spartanburg, given current events, is that according to the U.S. Department of Commerce it was the largest automotive exporter by value for the fifth year running in 2018. ThatÂ’s worth emphasizing: largest automotive exporter by value. Not GM. Not Ford. BMW. And where might one assume that more than a few of those X vehicles are shipped to? China. Some 360 miles southwest of Spartanburg is Mercedes-Benz U.S. International, Inc., in in Tuscaloosa County, Alabama. It started building vehicles in 1997. Since then, Daimler AG has invested in excess of $5.5 billion in the facility. It manufactures the crossover now known as the GLE, formerly the ML-Class. It also makes the GLE coupe and GLS. Daimler describes the Tuscaloosa facility as “the traditional home of SUV production” for those vehicles. When it reported its global 2018 sales, Daimler noted that on a global basis SUVs account “for more than a third of all Mercedes-Benz sales.” According to the Chinese finance ministry, on December 15th the Chinese government will impose a 25% tariff on automobiles (and a 5% tariff on auto parts) from the U.S. Certainly this is going to have a direct effect on the sales of vehicles that are manufactured in the U.S. and exported to China. BMW and Mercedes are going to take it on the chin for the vehicles that they make in plants that they invested in so heavily in the U.S. Which could potentially mean that people in places like Greer, South Carolina, and Vance, Alabama, are going to find themselves in the crosshairs of the combatants. Soo too could Lincoln, which produces vehicles in places like Louisville, Kentucky (Navigator), Chicago, Illinois (Aviator) and Flat Rock, Michigan (Continental). Although the Tesla Gigafactory 3 is rapidly nearing completion in Shanghai, it is worth noting that vehicles built in Fremont, California, are being sold in China in numbers that donÂ’t make Musk unhappy.

Major automakers post mixed US June sales figures

General Motors, Ford and Fiat Chrysler Automobiles NV posted declines in US new vehicle sales for June on Monday, while major Japanese automakers reported stronger figures. Once again, demand for pickup trucks and crossovers offset a decline in sedan sales. Automakers' shares rose as overall industry sales still came in above Wall Street expectations. The US auto industry is bracing for a downturn after hitting a record 17.55 million new vehicles sold in 2016. Analysts had predicted that overall, US vehicle sales would fall in June for the fourth consecutive month. As the market has shown signs of cooling, automakers have hiked discounts and loosened lending terms. Car shopping website Edmunds said on Monday the average length of a car loan reached an all-time high of 69.3 months in June. "It's financially risky, leaving borrowers exposed to being upside down on their vehicles for a large chunk of their loans," said Jessica Caldwell, Edmunds' executive director of industry analysis. GM said its sales fell about 5 percent versus June 2016, but that the industry would see stronger sales in the second half of 2017 versus the first half. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." GM shares were up 2.4 percent in morning trading, while Ford rose 3.3 percent and FCA shares jumped 6 percent. "US total sales are moderating due to an industry-wide pullback in daily rental sales, but key US economic fundamentals clearly remain positive," said GM chief economist Mustafa Mohatarem. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." Ford said its sales for June were hit by lower fleet sales to rental agencies, businesses, and government entities, which fell 13.9 percent, while sales to consumers were flat. But it sold a record 406,464 SUVs in the first half of the year, with Explorer sales increasing 23 percent in June. And sales of the F-150 had their strongest June since 2001. On a media call, Ford executives said an initial read of automakers' sales figures indicated a seasonally adjusted annualized rate of around 17 million new vehicles for the month, which would be better than 16.6 million units analysts had predicted. FCA said June sales decreased 7 percent versus the same month a year earlier.

2015 Mustang-based Saleen S302 to boast as much as 640 hp

The Ford Mustang is obviously a famous performance vehicle in its own right, but it often works even better as a platform for the aftermarket to upgrade. With the all-new 2015 model just now hitting the scene, the famous tuners at Saleen are getting their improvements for the new pony car ready for the world. After recently teasing it, the specs for its fresh S302 model are officially here, along with a first look at it in profile.
Of course, the biggest question on everyone's mind is how much power the company can get from the Mustang's V8. With the 2015 V8 model rated at 435 horsepower and 400 pound-feet, Saleen expects to bump the Ford factory numbers slightly to 450 hp and 410 lb-ft in naturally aspirated form, or with the benefit of a supercharger, it will rocket the engine's output figures to 640 hp and 565 lb-ft. No matter which powerplant a buyer chooses, there are a wide variety of available final-drive ratios with a six-speed manual or automatic gearbox.
Available as either a coupe or convertible forms, Saleen will offer its S302 in three trim levels - White Label, Yellow Label and Black Label. The White Label is the only naturally aspirated one of the bunch, but it still benefits from upgrades like a new exhaust, limited-slip differential, improved suspension, heat extractor hood and rear wing.