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Trump reportedly says he wants to wipe German cars off the U.S. map

BERLIN/FRANKFURT — A report that U.S. President Donald Trump has threatened to pursue German carmakers until there are no Mercedes-Benz rolling down New York's Fifth Avenue dented shares in the luxury car manufacturers on Thursday. An excerpt from German magazine Wirtschaftswoche's article, which cited several unnamed European and U.S. diplomats but did not include any direct quotes, could not be independently verified, while a U.S. Embassy spokesman in Berlin referred questions to Washington. The news and current affairs magazine said Trump had told French President Emmanuel Macron in April that he aimed to push German carmakers out of the United States altogether. Macron's administration in Paris declined to comment on the report. The Trump administration last week opened a so-called Section 232 trade investigation into vehicle imports, which could result in a 25 percent tariff on cars on the same "national security" grounds Washington used to impose metals duties in March. This could destroy exports by German carmakers, which control 90 percent of the U.S. premium market and are the biggest European Union exporters of cars to the United States. BMW owns Rolls-Royce, while Daimler has Mercedes-Benz, and Volkswagen controls Bentley, Bugatti, Porsche and Audi. Daimler, BMW and Audi declined comment. Porsche was not immediately available for comment. BMW shares were trading 0.5 percent lower at 0939 GMT, while Daimler and VW's shares were down 1 percent and 1.6 percent respectively, underperforming Germany's blue-chip DAX. Trump has railed against German carmakers before. And in early 2017, in an interview with German newspaper Bild, he said he would impose 35 percent tariffs on imported cars. At the time, the president called Germany a great car producer but said that the business relationship with the United States was an unfair one-way street. Germany's auto industry association VDA says its members exported 657,000 vehicles to North America last year, with total exports of vehicle components, cars, engines, as well as second-hand vehicles totaling 31.2 billion euros in 2016. Imports from the United States to Germany amounted to 7.4 billion euros, meaning a trade deficit of 23.8 billion euros the VDA's latest available figures show. However, German brands also have huge factories in the United States, where they built 804,000 cars last year, VDA said, providing jobs for U.S. workers. Berlin has reacted angrily to the U.S.

Chrysler and Fiat offering $1,000 rebates to VW owners as Marchionne gets tough

The throw-down between Fiat CEO Sergio Marchionne and Volkswagen has heated up in earnest. According to Bloomberg, Fiat and Chrysler are now offering current Volkswagen owners in the US $1,000 rebates to trade in their ride. It's the latest in a series of shots Marchionne has taken at his German rival. As you may recall, the Fiat executive entered into a spat with Volkwagen board chairman Ferdinand Piëch and CEO Martin Winterkorn in October after the duo called for Marchionne's resignation from presidency of the European Automotive Manufacturers Association (AECA). At the time, the Volkswagen executives were quoted as saying Fiat would not survive the European economic downturn.
In response, Marchionne called the German executives "reprehensible," and accused Volkswagen of using a pricing strategy that has created created a "bloodbath" in the EU. Volkswagen has taken to steep discounting to carve out ever-larger slices of market share in Europe, but the company has a much smaller foothold in the US. Marchionne may be trying to hit Volkswagen where the manufacturer is weakest with the new Fiat new incentive program.
Late last week, the Fiat executive was voted to a second term as ACEA president.

Ecotricity offering 1,000 free EV miles to new customers

Ecotricity is offering electric vehicle drivers in the United Kingdom an lengthy incentive for using green energy: 1,000 miles of free fast charging per year. Called "Green Electricity + Car," the program will power customers' homes with renewable power allow them to charge their cars through Ecotricity's national network of fast chargers, which the company has named the Electric Highway. It makes complete sense for Ecotricity. "To get the greatest environmental benefit from an electric car, it needs to be charged using 100 percent green electricity from the wind and the sun – otherwise you're still powering it from dirty fossil fuels," wrote Dale Vince, founder of Ecotricity. Ecotricity, a UK-based producer of green energy, wants to bring fast charging to 90 percent of highway service stations around the UK in the near future and four fast chargers are installed per week under the Electric Highway campaign, the company says. Users can fast charge their EVs in 20-to-30 minutes. Ecotricity recently instituted a price freeze for all gas and electricity customers until April 1, reducing energy costs below what's being billed by the country's "Big Six" energy companies. Green Electricity + Car coincides with Volkswagen bringing its electric e-Up! to the British market. Volkswagen Group (UK) Limited imports VW, Audi, SEAT and Skoda brand vehicles and has signed a deal with Ecotricity as its official green energy supplier. Volkswagen Group customers purchasing an EV through one of its brands can take advantage of a new, reduced-cost Ecotricity tariff and a free smart meter installation. 08 February 2014 Green Electricity + Car Drivers of electric cars will receive 1,000 free miles every year with a new electricity tariff being launched by green energy company Ecotricity. Green Electricity + Car – will not only power customers homes with green energy but also their cars (either 100% electric or plug-in hybrids), plus they'll get free access to Ecotricity's national network of fast chargers[1] – the Electric Highway. This latest move comes after Ecotricity announced a price freeze for all gas and electricity customers until the end of winter (April 1st), making them cheaper[2] than the standard tariff of the Big Six energy companies.