2002 Porsche 911 Carrera Convertible 2-door 3.6l on 2040-cars

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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.

Porsche-Piech buy 10% stake in VW's holding company

In August, 2009, as the scuttled merger of Porsche and Volkswagen had gone bad and Porsche was backed up against the ropes, Porsche Automobil Holding SE (PAHSE) relinquished a ten-percent stake in itself to Qatar Holdings as well as options it held on 17 percent of VW shares. The sale meant that, for the first time since the founding of the company 61 years before, an entity outside the Porsche and Piech families had a say in the running of PAHSE.
Buying that ten-percent stake back returns full ownership to the two families, the holding company's sole possession being ownership of 50.7 percent of VW's common shares. The price paid wasn't disclosed, but at market rates the purchase would be worth close to $1.25 billion. Qatar intends to hold onto the 17-percent stake it has in Volkswagen.

Porsche busts out new Boxster GTS and Cayman GTS

Baby 911. The poor man's Porsche. That's what they called the Boxster when it debuted some 20 years ago. They said the same of the first Cayman when it arrived a decade later, but they stopped saying it when the latest iterations hit the scene two years ago. That's because Zuffenhausen's entry-level models have long since stepped out of their big brother's shadow and into their own. And that's all the more true of the new Boxster GTS and Cayman GTS.
Based on the Boxster S and Cayman S, the new GTS models benefit from an enhanced 3.4-liter flat six that produces 330 horsepower and 273 pound-feet of torque in the roadster or 340 hp and 280 lb-ft in the coupe - representing an increase of 15 hp and 7 lb-ft in either model. Both also come with the Sport Chrono package as standard, along with adjustable suspension and 20-inch alloys, blacked out to match the dynamic headlight surrounds and other muted trim.
Those disappointed by the unavailability of a manual transmission in the fire-prone 911 GT3 will be pleased to note that a six-speed manual comes standard, but those enamored of letting a pair of clutches shift themselves seamlessly will want to spring for the optional seven-speed DCT. So equipped and with launch control engaged, the Boxster GTS will rocket from a standstill to 62 miles per hour in 4.7 seconds, while the incrementally lighter, more powerful Cayman will hit it in 4.6. Either way you're looking at a third of a second quicker than the Boxster/Cayman S. There's also a 20-millimeter lowered suspension on offer for track-day enthusiasts.