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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.

Volkswagen considering a four-door, four-seat XL1

According to a report in Autocar, Volkswagen might have more in mind for the XL1 than mining it for advances to grace the next-generation Golf. Aiming to fight the Honda FCEV due for public consumption next year, we're told VW executives have put a four-door, four-seater version of the XL1 - it could be called XL2 - on the drawing board. The impetus is said to come from the top, with VW Group chairman Ferdinand Piëch intent on staying in the deep end of "super-efficent vehicles."
Autocar suspects the necessary changes could raise the weight of the car from 1,749 pounds to 2,068 pounds, which would make it four pounds less than the 2,072-pound Up! we drove a few years ago. Crucially, however, the mag thinks the extra capacity wouldn't change the two-seater's 310-mile-per-gallon rating, with tech tweaks and the aerodynamic benefit of a longer car offsetting the weight. Speculation is that the back seats would be staggered like the fronts in order to maintain the XL1's overall profile.
We recently heard about another XL1 variant that's gone off the radar entirely, the Ducati-engined XLR that we thought we'd see at the Geneva Motor Show and that was said to be going into production, so this one could go the same way. The biggest hurdle to making such an idea a reality, though, could be the price: the current XL1 costs 110,000 euros ($146,116). If VW really is going to compete with the Honda FCEV and the Toyota FCV - $70,000 in Japan - that might be where it wants to start.

Volkswagen debuts MkVII-based diesel Golf GTD

As Volkswagen prepares for the launch of the seventh-generation Golf, it continues to show off some of the car's different variants. With the standard Golf and the ultra-efficient BlueMotion Concept out of the way, now we're finally starting to see some of the sportier versions planned for the hatchback. Confirmed for a debut at the Geneva Motor Show, Volkswagen has now given us our first glimpse at the Golf GTD.
Just think of the GTD as a diesel version of the GTI with all the handling and styling upgrades, and then add a torquey engine to the equation. (We had the chance to sample the current GTD over the summer, so click here to read more.) To go with the new body style, VW also gave the GTD a new TDI engine consisting of a similar turbocharged and direct-injected 2.0-liter inline-four layout but with an output of 184 horsepower and 280 pound-feet of torque - that's an increase of 14 hp and 22 lb-ft over the current GTD. That's a pretty good oomph, but the GTD won't be setting any acceleration records with VW quoting a 0-62 mile per hour time of 7.5 seconds thanks to the car's 3,036-pound curb weight.
The styling of the MkVII Golf lends itself quite well to the more aggressive body kit found on the GTD (and likely matching the GTI). The new front fascia and blacked-out grille give the GTD a sporty look up front, while 17-inch sport wheels, rocker panel extensions and smoked LED taillights finish off the visual changes. The GTD will only be offered in three exterior colors: Tornado Red, Black and Pure White. As expected, the interior gets the plaid seat inserts and flat-bottomed sport steering wheel, but the car also gets stainless steel pedals, a black headliner, ambient cabin lighting and a specific gauge cluster readout.