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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.

Recharge Wrap-up: Cool new Euro VI railroader Unimog, Car2go hearts charity

Mercedes-Benz's mega-cool road-railer Unimog now boasts Euro VI compliance. Used for railroad track maintenance and train shunting work, this diesel-powered Unimog offers about a 90-percent improvement in particulate emissions over the Euro V. The new engine also offers improved efficiency. It provides 231 horsepower, and with eight forward and eight reverse gears, it can travel up to 31 miles per hour in either direction. It also has new in-cabin features that make it easier to use for the driver. Read more about the new road-railer Unimog in the press release below. Carsharing group Car2go has launched a donation feature within its mobile app, called "ride2provide." The feature lets users find "heart cars," which, when used, include a $1 donation to Whole Planet Foundation. The money raised by the ride2provide program goes towards the Whole Planet Foundation's mission of providing microcredit to the poor for creating or expanding home-based businesses. Car2go's ride2provide program started August 4, and runs for 90 days. Learn more in the press release below. China continues to pave the way for more EVs, but some people are still skeptical they'll catch on. Charging station operators will be forgiven some of their electricity fees until 2020, said the National Development and Reform Commission (NDRC). China has already extended tax exemptions on EVs through 2017. The NDRC is also urging local governments to offer subsidies and free charging. Still, the costs involved with installing chargers are keeping many from doing it, and many consumers are hesitant to become early adopters of EVs. Read more at ECNS. car2go Launches "ride2provide" To Help car2go Communities To Work Together To Give Back "ride2provide" To Be Integrated via car2go Mobile App Beginning August 4th car2go To Donate To Whole Planet Foundation® As Program's First Exclusive Charity car2go North America LLC, the fastest-growing global carsharing company, announced that it has launched "ride2provide," a donation feature to be integrated into the car2go mobile app for iPhone and android iOS beginning today, August 4th. The new initiative seeks to help car2go communities across its 15 locations and over 400,000 members in North America to work together in donating to a charitable cause, and will first kick off with a 90-day partnership with Whole Planet Foundation as the program's first exclusive charity.

Mercedes-Benz Concept GLA gets official ahead of Shanghai

Mercedes-Benz has something special planned for the Shanghai Motor Show - a new CUV concept that we first saw when it leaked on the internet yesterday. The GLA Concept compact crossover will hit the show stand with a turbocharged 2.0-liter four-cylinder engine producing 208 horsepower and 258 pound-feet of torque mated to a seven-speed dual clutch transmission and 4Matic all-wheel drive, and likely previews a new production model that we've already spotted testing.
That's not news, but the laser-based headlamps with video-projecting capability certainly are. Mercedes-Benz says the array can project any image or video onto a screen, which is handy since there are a pair of HD cameras mounted to the roof rack. The cameras can be removed and taken with you on all sorts of adventures. The lamps also feature a visible cooling system comprised of a series of fans, and the system helps give the headlights their "sparkle" effect.
Step indoors and the GLA offers up the interior of a high-quality crossover, complete with contrasting leather and plenty of aluminum. The automaker says the cabin was inspired by saddle craftsmanship with "more than 65 feet of hand-stitched seams to hold the raw edges of the leather together."