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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.

Mercedes mulling Renault-based entry-level X-Class?

Somewhere in between the Smart brand and the all-new A-Class (pictured above), Daimler is said to be readying a smaller entry-level product for the Mercedes-Benz brand to compete with models like the Audi A1. According to AutoBild, Mercedes-Benz will get a new hatchback based on a platform from its recent partnership with Renault-Nissan, and it could be called the X-Class.
Expected to debut by 2018, the Mercedes-Benz X-Class could be offered in sedan, hatchback and crossover variants, and it would likely have a starting price below the $20,000-euro mark. Power would come from either a 1.0-liter inline three-cylinder engine or a 1.5-liter inline-four, and the car would likely be built in a low-cost nation in order to make the financials work. Wearing the Mercedes-Benz name, the X-Class would have to exhibit more distinguishable luxury and styling to set itself apart from the models that helped provide its underpinnings.

Recharge Wrap-up: 2015 Honda CR-Z now on sale, Daimler and Linde building hydrogen stations in Germany

The 2015 Honda CR-Z hybrid is now available at dealerships, for slightly more money. The CR-Z starts at an MSRP of $20,145 (plus $790 in destination charges), up from the $19,995 price of the 2014 model. For those who don't want to row their own gears with the six-speed manual transmission, the available CVT adds an extra $650 to the price, but also offers better fuel economy, especially in the city. The manual-equipped CR-Z gets 31 mpg city/38 highway/34 combined, while the CVT version is rated at 36/39/37 mpg. The 1.5-liter engine and electric motor provide a combined peak 130 horsepower. The manual CR-Z offers 140 pound-feet of torque, with the CVT version providing 127 pound-feet. Customers can also soup up their new CR-Z with upgrades (including a supercharger) from Honda Performance Development. Learn more in the press release below. Daimler and Linde are teaming up to build hydrogen fueling stations in Germany. The automaker and gases and engineering company, with the help of a few oil and gas companies, plan to install 13 new stations by the end of 2015. The installations precede a push by Daimler to get more fuel cell vehicles on the road. "From 2017, we are planning to bring competitively priced fuel-cell vehicles to market," says Daimler's Herbert Kohler. "So now is the time to build a nationwide fuelling infrastructure." Linde will supply the stations with fully renewable hydrogen. Read more in the press release below. In 1899, an EV set a world landspeed record, and Wired has revisited the story with a nice look back at the "La Jamais Contente" and its driver, Belgian engineer Camille Jenatzy. Jenatzy built an electric car to race in a hillclimb, which he won while clocking a top speed of 17 miles per hour (measured the old-timey way - without radar guns). Just a few weeks later, another man set a landspeed record of 32 miles per hour, beginning a back-and-forth series of setting new records. Then, on April 29, 1899, "The Red Devil," as Jenatzy became known as, surpassed 100 kph (62 mph) when his torpedo-shaped electric car set a record of 65.8 mph. It was powered by two 25-kilowatt electric motors. Read the whole story over at Wired.