kc22invesmentsblog · 1 year ago
Text
Unveiling the World's Most Expensive Car: The 1962 Ferrari 250 GTO
Written by Delvin In the realm of luxury automobiles, certain vehicles transcend the boundaries of conventional status symbols, becoming coveted treasures that capture the imagination of car enthusiasts and collectors alike. Among these automotive gems, the 1962 Ferrari 250 GTO stands tall as the pinnacle of exclusivity and opulence. With a price tag that defied expectations, this iconic Ferrari…
View On WordPress
1 note · View note
vilaspatelvlogs · 4 years ago
Text
रोनाल्डो ने खरीदी दुनिया की सबसे महंगी कार, कीमत जान चौंक जाएंगे आप
रोनाल्डो ने खरीदी दुनिया की सबसे महंगी कार, कीमत जान चौंक जाएंगे आप
[ad_1]
तुरिन: पुर्तगाल के सुपरस्टार फुटबालर क्रिस्टियानो रोनाल्डो (Cristiano Ronaldo) ने अपनी कारों के कलेक्शन में एक और कार, बुगाती सेंटोडिएसी (Bugatti Centodieci) को शामिल कर लिया है. इटालियन क्लब जुवेंतस के स्टार स्ट्राइकर रोनाल्डो ने इंस्टाग्राम पर अपनी नई कार के साथ एक फोटो पोस्ट किया है, जिसमें उन्होंने लिखा, “आप दृश्य चुनें.”
मीडिया रिपोर्ट्स के मुताबिक ये दुनिया की सबसे महंगी कार है और…
View On WordPress
0 notes
maybachmediacollection · 6 years ago
Text
Bugatti Unveils The World's Most Expensive New Car
Bugatti Unveils The World’s Most Expensive New Car
French supercar maker Bugatti has unveiled the world’s most expensive new car, sold to an unnamed buyer for at least $11m (£9.5m) before tax.
The exact price is not being revealed, but is thought to have overtaken the previous new car record – about £8-9m for a Rolls-Royce Sweptail.
With engine power about 20 times a Ford Fiesta, the car was built to celebrate Bugatti’s 110th anniversary.
Ferdina…
View On WordPress
0 notes
bradfordzone · 7 years ago
Text
World's Most Expensive Cars | Channel 4 25 November 2:45pm
World’s Most Expensive Cars | Channel 4 25 November 2:45pm
Ant Anstead visits RM Sotheby’s London office, where a rare and beautiful Ferrari has been valued at a whopping €19 million. In California, a Mercedes-Benz elaborately decorated by Japanese artist Hiro Yamagata is going to auction. And Dutch car hunter Tonnie is on the trail of a couple of Maseratis. Exec Prods: JB Waddell, Jannine Waddell, David Cumming; Series Prod: Simon Everson; Prod Co:…
View On WordPress
0 notes
joyfulnerdengineer-blog · 7 years ago
Text
$13 Million Rolls-Royce Sweptail Could Be Most Expensive New Car Ever Made. La voiture La plus Cher Jamais Construite
$13 Million Rolls-Royce Sweptail Could Be Most Expensive New Car Ever Made. La voiture La plus Cher Jamais Construite
The upper echelon of the luxury car market hardly ever leaves any expensive stone unturned. Exclusive autos created by the likes of Christian Von Koenigsegg and Horacio Pagani can easily be optioned to a million dollars and up, and with the average Bugatti Chiron costing around $3 million, it doesn’t seem like there would be much headroom for anyone to go higher—except for Rolls-Royce. A new one-…
View On WordPress
0 notes
zricksdotcom-blog · 8 years ago
Text
Hong Kong Parking Garage valued at $2.2 Billion (₹15,000 cr) to be sold in 2017
Hong Kong Parking Garage valued at $2.2 Billion (₹15,000 cr) to be sold in 2017
Hong Kong’s government has announced the first sale of commercial land in the city’s central business district in more than 20 years. The site, currently used as a multi-story car park in Murray Road, Central, is about 31,000 square feet. The plot is valued at HK$15.8 billion to HK$17 billion ($2.2 billion), according Colliers International. It is the the first commercial development site…
View On WordPress
0 notes
newssplashy · 6 years ago
Link
The Trump administration's proposed $200 billion in fresh tariffs on Chinese imports will force Americans to pay more for their products from the cradle to the grave, a wide range of American Businesses have said.
Trump is proposing new 25% tariffs on Chinese imports.
A hearing on the proposals starts in Washington on Monday.
The new tariffs "dramatically expand the harm to American consumers, workers, businesses, and the economy," the US Chamber of Commerce said in written testimony.
Furniture, lighting products, tires, chemicals, plastics, bicycles, cradles, and Chinese seafood are among the imports set to be hit by the new duties, Reuters reported.
The Trump administration's proposed $200 billion in tariffs on Chinese imports will force Americans to pay more for everything from cradles to seafood, businesses have warned.
Monday is the first session of a six-day hearing in Washington on the proposed 25% tariffs, which are part of the Trump administration and US Trade Representatives' efforts to put pressure on Beijing.
The US Chamber of Commerce, which represents a wide range of American Businesses, said in written testimony for the hearing that the new tariffs will "dramatically expand the harm to American consumers, workers, businesses, and the economy."
Past rounds of sanctions have mainly targeted Chinese industrial machinery and intermediate goods, but the proposed tariffs could affect thousands of consumer products by late September, Reuters reported. Furniture, lighting products, tires, chemicals, plastics, bicycles, cradles, car seats for babies, and Chinese seafood are all set to be hit by the new duties.
The Trump administration lacks a "coherent strategy" to address China’s theft of intellectual property and other harmful trade practices, the US Chamber of commerce said according to Reuters' report. It called for "serious discussions" with Beijing.
The USTR received over 1,400 written comments from businesses about the Trump administration's plan. Most businesses argued the tariffs will cause harm by raising costs on products and services.
The largest bicycle brand in the US, Huffy, said a 25% tariff poses a "serious threat to the company." It sells 4 million Chinese-made bikes per year.
"There is no other country in Asia or Europe that can provide the volume Huffy requires as China is the largest bicycle producer in the world," Bill Smith, the CEO of Huffy Corp, said in his submission.
Graco Children’s Products, which makes car seats for babies, said there would be an increase in customers buying second-hand items for their children.
"[The tariffs] will have a direct negative impact on our company, American parents, and most importantly the safety of American children."
Trump administration officials and their Chinese counterparts are expected to meet later this week in Washington to discuss their trade dispute.
via Nigerian News ➨☆LATEST NIGERIAN NEWS ☆➨GHANA NEWS➨☆ENTERTAINMENT ☆➨Hot Posts ➨☆World News ☆➨News Sp
0 notes
mossandfog · 8 months ago
Text
This Rolls Royce is a Masterclass in Elegance - It's Also the World's Most Expensive New Car
There are luxury cars, then there are handbuilt, one-off works of art. Bespoke. The Rolls Royce Arcadia Droptail is clearly the latter, a super-exclusive, highly specialized coachbuild, and it happens to be the most expensive new car in the world. At $31 million dollar, the Arcadia Droptail is absurdly expensive. It also happens to be absurdly beautiful, with a handcrafted exterior and interior…
Tumblr media
View On WordPress
0 notes
thesquander · 9 years ago
Text
Floyd Mayweather Does it Again
Floyd Mayweather Does it Again
As if anyone thought it was possible, champion Floyd Mayweather has outdone himself  by purchasing the most expensive car in the world. (more…)
View On WordPress
0 notes
blogsandmorebyaderemi · 9 years ago
Text
The World’s Most Expensive Mercedes Car with 300,000 Diamonds
The World’s Most Expensive Mercedes Car with 300,000 Diamonds
The car is owned by Saudi Prince (Amir) al Waleed bin Talal bin Abdul-Aziz. The car was seen for the first time at a Dubai auto show to feast the 50th anniversary of the Mercedes Benz. The two Mercedes Benz Sl600s were fitted with 300,000 crystals and it sells for $4.8 Million. More pictures below:  
View On WordPress
0 notes
bradfordzone · 7 years ago
Text
World's Most Expensive Cars | Channel 4 27 May 2:30pm
World’s Most Expensive Cars | Channel 4 27 May 2:30pm
Ant Anstead visits RM Sotheby’s London office, where a rare and beautiful Ferrari has been valued at a whopping €19 million. In California, a Mercedes-Benz elaborately decorated by Japanese artist Hiro Yamagata is going to auction. And Dutch car hunter Tonnie is on the trail of a couple of Maseratis. Exec Prods: JB Waddell, Jannine Waddell, David Cumming; Series Prod: Simon Everson; Prod Co:…
View On WordPress
0 notes
newssplashy · 6 years ago
Text
Finance: The 2019 Volvo XC40 hits a sweet spot in the compact luxury SUV segment — and it's already bringing a new generation of customers to the Swedish automaker
Volvo's newest and smallest crossover SUV arrives with lots of creature comforts, leading-edge safety technology, and a punchy engine, all wrapped in a right-sized package — and it couldn't have shown up at a better time.
The Volvo XC40 is the newest and smallest addition to the Swedish automaker's SUV lineup.
It arrives at the perfect time for Volvo, as the luxury compact SUV segment evolves in the US.
The XC40 is a tasteful, high-quality and exceptionally well-packaged small SUV for a starting price of around $33,000. It's also available via subscription through the Care by Volvo program, which lumps the car payment, insurance, and scheduled maintenance into one monthly fee.
The Volvo XC40 is the newest addition to the Swedish automaker's SUV lineup and it joins a growing segment of compact sport-utility vehicles and crossovers currently dominating the market.
Now eight years into its relaunch as a luxury brand under the Chinese automotive conglomerate, Geely Holding Group, Volvo has launched seven new models, three of which are SUVs: the XC90, XC60, and now the XC40.
The 40 is built on Volvo's proprietary small-car skeleton, denoted as the Compact Modular Architecture (CMA) platform which was co-developed with Geely.
As automobiles go, being the smallest and least expensive model in a lineup usually means you'll have to make some compromises — the evidence of which might manifest itself in lower-quality materials and fewer options than the pricier models.
That is not the case here. The XC40 feels nearly every bit as premium as a compact luxury four-wheeler should.
From the moment you pull open its hefty doors, plant yourself into the sculpted, leather and Alcantara-wrapped driver's seat, and grip the thick-rimmed steering wheel with the stoic chrome-plated Volvo badge planted dead-center, you realize you're about to pilot a very capable, exceptionally well-built machine.
At the same time, it's also quaint. And comfortable.
Unlike its larger siblings, the XC40 has no plug-in hybrid variant yet. It can only be had with one of two versions of the company's four-cylinder, turbocharged, gas-powered engines — available with 187-horsepower, or a more energetic 248-horsepower variant. An all-electric version is currently in development.
Volvo recently loaned us a fully loaded XC40 R-Design for a weeklong drive in Los Angeles. These are our impressions:
In pictures, the XC40 looks deceptively small. In reality, it's compact enough for city driving but has plenty cargo and passenger room for longer trips.
The Volvo family resemblance here is unmistakable. By now, you've seen what Volvo lovingly calls the "Thor's hammer" effect prominently featured in the automaker's signature headlights. Up front on the XC40, it gives the car a subtle, unique flair that makes it instantly memorable.
The inscribed "VOLVO" badge on the reflector lens is a nice touch.
Our Crystal White metallic test-car came with several panels and trim pieces, including the front grille seen here, painted gloss black.
You're probably seeing a lot of cars with this aesthetic on the road right now: side-view mirrors, roofs, rear decklid spoilers, side and hood vents — both fake and real — and, in some cases, door handles — all painted black. I have mixed, mostly negative, opinions about it.
But here on our R-Design model, it works.
The entire roof, and a portion of the D-pillar, are also painted black. Again, it works for the R-Design, but still feels just a little bit contrived. Call me boring, but I'd prefer the entire car painted one color.
Overall, this is a very handsome package, as equipped.
In keeping with the current mode for modern SUVs, a striking pair of shoes are a must. These are Volvo's 20-inch, 5-double spoke matte black diamond cut alloys.
Current-generation Volvos are some of the few luxury cars that boast a family resemblance from the front and the back. The upswept tail lights are instantly recognizable. Even from a distance, everyone will know you're driving Swedish.
Broadly speaking, the mighty turbocharged four-cylinder engine has become a staple in the modern auto industry. You get a very capable one in the XC40. Our tester was equipped with Volvo's 248-horsepower T5 variant. It's quick, quiet, and efficient.
Gas mileage was as good as I expected: 23 mpg in the city and 31 mpg on the highway, according to Volvo.
During my time with the XC40, I took a weekend road trip from Los Angeles to San Francisco. Starting with a full tank on both ends of the journey, I only needed to top off once, roughly halfway between the two metropolises. I'm certain I could've kept driving for a while before the tank got too close to empty.
The interior is really well done, and a pleasant surprise for any compact SUV starting in the $30,000 range.
Granted, our test model was loaded with every option available, but that doesn't negate the consideration Volvo's designers gave to the tactile feel of nearly every interior touch point — from the seating surfaces, to the chunky metal interior door handles, and the knurled center-console knob just below the nine-inch touch screen.
And for maximum practicality, there's a small rubbish bin in front of the center armrest.
And this is probably one of the best steering wheels in the segment.
The XC40's sportier R-Design package equips the seats with a rather typical combination of leather and a suede-like Alcantara. Also typical of Volvo specifically: the seats are a deeply satisfying place to be.
The splash of orange on the interior door panels and carpet help break up the visual monotony of what would otherwise be an all-black-everything interior.
On paper, you'd think a splash of orange would turn an otherwise handsome interior into something rather undignified, but that's not the case here. It livens things up just enough, without feeling cheap or gratuitous.
And, of course, there's a panoramic sunroof for good measure. Full disclosure: I've driven dozens of vehicles with these extra-large openings overhead, but I never drive with the roof open.
I like the aesthetic, though — and sometimes I will retract the sunshade.
Our test XC40 also came with Volvo's Pilot Assist semi-autonomous drive feature. It keeps the car within its own lane on road, and maintains a set speed and distance from the car ahead.
Unlike Tesla's Autopilot, Volvo's almost-but-not-quite-self-driving technology will not let you drive for any length of time with your hands off the steering wheel.
While testing the feature in freeway traffic, we observed that it took the XC40 mere seconds to recognize there was no driver input on the steering wheel, and it gave visual and audio prompts to reengage.
I would argue — as many automotive journalists before me have — that Autopilot is a more advanced semi-autonomous driving system that handles steering, acceleration, braking and lane-change duties in real-world traffic more gracefully than most other systems on the road right now.
But the system is not perfect. And in my personal experience, Autopilot is far more permissive of longer stretches of handsfree drive time. Autopilot does deploy a set of alerts that gradually escalate if drivers go hands-off for more than 30 seconds.
Sensus, Volvo's infotainment interface, is fantastic system. One of the best vehicle UIs in the industry.
It merges the car's systemwide settings and features with Apple CarPlay and Android Auto. The drawback to that is you get a screen with multiple layers of pages and tabs that require a sizable share of your brain's attention to navigate. It's a fine system nonetheless.
And, as is typical of Volvo, the Swedish automaker always adds just a splash of patriotism
You can see that here, with the rubberized miniature Swedish flag affixed to the front left fender.
THE VERDICT
The Volvo XC40 really hits a sweet-spot among the current crop compact luxury SUVs. It's large enough for cargo and crew, but remains nimble and responsive on the road. The available active safety and driver-assist features are well-executed.
It's an attractive and capable vehicle that's distinctively Volvo, and comes in at a price point that positions the company to reach new customers.
Coincidentally, Volvo says it has already seen such an influx with the XC40, which is available by subscription, via the Care by Volvo program.
Subscribers can order an XC40 and pay a flat monthly fee that includes the car payment, insurance, and scheduled maintenance. "We’re proud that 92% of subscribers are completely new to the Volvo brand," company spokesman Jim Nichols told Business Insider in an emailed statement. As of July 2018, the automaker has sold more than 6,600 XC40s — surpassing all other models in the Volvo lineup.
All that's missing is an electric variant. Given the current obsession for these compact luxury SUVs, and the growing demand for affordable electric vehicles, an all-electric XC40 could conceivably dominate the market once it hits the road.
source http://www.newssplashy.com/2018/08/finance-2019-volvo-xc40-hits-sweet-spot.html
0 notes
newssplashy · 6 years ago
Link
Volvo's newest and smallest crossover SUV arrives with lots of creature comforts, leading-edge safety technology, and a punchy engine, all wrapped in a right-sized package — and it couldn't have shown up at a better time.
The Volvo XC40 is the newest and smallest addition to the Swedish automaker's SUV lineup.
It arrives at the perfect time for Volvo, as the luxury compact SUV segment evolves in the US.
The XC40 is a tasteful, high-quality and exceptionally well-packaged small SUV for a starting price of around $33,000. It's also available via subscription through the Care by Volvo program, which lumps the car payment, insurance, and scheduled maintenance into one monthly fee.
The Volvo XC40 is the newest addition to the Swedish automaker's SUV lineup and it joins a growing segment of compact sport-utility vehicles and crossovers currently dominating the market.
Now eight years into its relaunch as a luxury brand under the Chinese automotive conglomerate, Geely Holding Group, Volvo has launched seven new models, three of which are SUVs: the XC90, XC60, and now the XC40.
The 40 is built on Volvo's proprietary small-car skeleton, denoted as the Compact Modular Architecture (CMA) platform which was co-developed with Geely.
As automobiles go, being the smallest and least expensive model in a lineup usually means you'll have to make some compromises — the evidence of which might manifest itself in lower-quality materials and fewer options than the pricier models.
That is not the case here. The XC40 feels nearly every bit as premium as a compact luxury four-wheeler should.
From the moment you pull open its hefty doors, plant yourself into the sculpted, leather and Alcantara-wrapped driver's seat, and grip the thick-rimmed steering wheel with the stoic chrome-plated Volvo badge planted dead-center, you realize you're about to pilot a very capable, exceptionally well-built machine.
At the same time, it's also quaint. And comfortable.
Unlike its larger siblings, the XC40 has no plug-in hybrid variant yet. It can only be had with one of two versions of the company's four-cylinder, turbocharged, gas-powered engines — available with 187-horsepower, or a more energetic 248-horsepower variant. An all-electric version is currently in development.
Volvo recently loaned us a fully loaded XC40 R-Design for a weeklong drive in Los Angeles. These are our impressions:
In pictures, the XC40 looks deceptively small. In reality, it's compact enough for city driving but has plenty cargo and passenger room for longer trips.
The Volvo family resemblance here is unmistakable. By now, you've seen what Volvo lovingly calls the "Thor's hammer" effect prominently featured in the automaker's signature headlights. Up front on the XC40, it gives the car a subtle, unique flair that makes it instantly memorable.
The inscribed "VOLVO" badge on the reflector lens is a nice touch.
Our Crystal White metallic test-car came with several panels and trim pieces, including the front grille seen here, painted gloss black.
You're probably seeing a lot of cars with this aesthetic on the road right now: side-view mirrors, roofs, rear decklid spoilers, side and hood vents — both fake and real — and, in some cases, door handles — all painted black. I have mixed, mostly negative, opinions about it.
But here on our R-Design model, it works.
The entire roof, and a portion of the D-pillar, are also painted black. Again, it works for the R-Design, but still feels just a little bit contrived. Call me boring, but I'd prefer the entire car painted one color.
Overall, this is a very handsome package, as equipped.
In keeping with the current mode for modern SUVs, a striking pair of shoes are a must. These are Volvo's 20-inch, 5-double spoke matte black diamond cut alloys.
Current-generation Volvos are some of the few luxury cars that boast a family resemblance from the front and the back. The upswept tail lights are instantly recognizable. Even from a distance, everyone will know you're driving Swedish.
Broadly speaking, the mighty turbocharged four-cylinder engine has become a staple in the modern auto industry. You get a very capable one in the XC40. Our tester was equipped with Volvo's 248-horsepower T5 variant. It's quick, quiet, and efficient.
Gas mileage was as good as I expected: 23 mpg in the city and 31 mpg on the highway, according to Volvo.
During my time with the XC40, I took a weekend road trip from Los Angeles to San Francisco. Starting with a full tank on both ends of the journey, I only needed to top off once, roughly halfway between the two metropolises. I'm certain I could've kept driving for a while before the tank got too close to empty.
The interior is really well done, and a pleasant surprise for any compact SUV starting in the $30,000 range.
Granted, our test model was loaded with every option available, but that doesn't negate the consideration Volvo's designers gave to the tactile feel of nearly every interior touch point — from the seating surfaces, to the chunky metal interior door handles, and the knurled center-console knob just below the nine-inch touch screen.
And for maximum practicality, there's a small rubbish bin in front of the center armrest.
And this is probably one of the best steering wheels in the segment.
The XC40's sportier R-Design package equips the seats with a rather typical combination of leather and a suede-like Alcantara. Also typical of Volvo specifically: the seats are a deeply satisfying place to be.
The splash of orange on the interior door panels and carpet help break up the visual monotony of what would otherwise be an all-black-everything interior.
On paper, you'd think a splash of orange would turn an otherwise handsome interior into something rather undignified, but that's not the case here. It livens things up just enough, without feeling cheap or gratuitous.
And, of course, there's a panoramic sunroof for good measure. Full disclosure: I've driven dozens of vehicles with these extra-large openings overhead, but I never drive with the roof open.
I like the aesthetic, though — and sometimes I will retract the sunshade.
Our test XC40 also came with Volvo's Pilot Assist semi-autonomous drive feature. It keeps the car within its own lane on road, and maintains a set speed and distance from the car ahead.
Unlike Tesla's Autopilot, Volvo's almost-but-not-quite-self-driving technology will not let you drive for any length of time with your hands off the steering wheel.
While testing the feature in freeway traffic, we observed that it took the XC40 mere seconds to recognize there was no driver input on the steering wheel, and it gave visual and audio prompts to reengage.
I would argue — as many automotive journalists before me have — that Autopilot is a more advanced semi-autonomous driving system that handles steering, acceleration, braking and lane-change duties in real-world traffic more gracefully than most other systems on the road right now.
But the system is not perfect. And in my personal experience, Autopilot is far more permissive of longer stretches of handsfree drive time. Autopilot does deploy a set of alerts that gradually escalate if drivers go hands-off for more than 30 seconds.
Sensus, Volvo's infotainment interface, is fantastic system. One of the best vehicle UIs in the industry.
It merges the car's systemwide settings and features with Apple CarPlay and Android Auto. The drawback to that is you get a screen with multiple layers of pages and tabs that require a sizable share of your brain's attention to navigate. It's a fine system nonetheless.
And, as is typical of Volvo, the Swedish automaker always adds just a splash of patriotism
You can see that here, with the rubberized miniature Swedish flag affixed to the front left fender.
THE VERDICT
The Volvo XC40 really hits a sweet-spot among the current crop compact luxury SUVs. It's large enough for cargo and crew, but remains nimble and responsive on the road. The available active safety and driver-assist features are well-executed.
It's an attractive and capable vehicle that's distinctively Volvo, and comes in at a price point that positions the company to reach new customers.
Coincidentally, Volvo says it has already seen such an influx with the XC40, which is available by subscription, via the Care by Volvo program.
Subscribers can order an XC40 and pay a flat monthly fee that includes the car payment, insurance, and scheduled maintenance. "We’re proud that 92% of subscribers are completely new to the Volvo brand," company spokesman Jim Nichols told Business Insider in an emailed statement. As of July 2018, the automaker has sold more than 6,600 XC40s — surpassing all other models in the Volvo lineup.
All that's missing is an electric variant. Given the current obsession for these compact luxury SUVs, and the growing demand for affordable electric vehicles, an all-electric XC40 could conceivably dominate the market once it hits the road.
via Nigerian News ➨☆LATEST NIGERIAN NEWS ☆➨GHANA NEWS➨☆ENTERTAINMENT ☆➨Hot Posts ➨☆World News ☆➨News Sp
0 notes
newssplashy · 6 years ago
Text
Finance: Trump's 25% car tariff would be like taking out the 'bazooka' on a global auto trade war — and Germany could be hit the hardest
The Trump administration pointed to national security risks as it slapped steel and aluminum tariffs on the US's closest allies this week. But some analysts see metal import taxes as more of a bargaining chip on a path to what the president is "ultimately interested in": the German auto industry.
The Trump administration is investigating whether auto imports threaten national security.
President Donald Trump reportedly wants a 25% tariff on vehicles imported into the US.
The German auto industry would be among the biggest losers in that situation.
The Trump administration pointed to national security risks as it slapped steel and aluminum tariffs on the US's closest allies this week. But some analysts see metal-import taxes as more of a bargaining chip on a path to what the president is "ultimately interested in": the German auto industry.
"We believe the far bigger prize for the White House is auto exports, most significantly from Germany," BMI analysts wrote in a recent note to clients.
The Commerce Department last week launched an investigation that could reportedly result in a 25% auto-import tax. Some experts think it would be difficult to use national security grounds to impose that kind of trade restriction on allies.
BMI said Trump could use any retaliatory efforts in a trade standoff with the European Union as a reason to raise tariffs on auto imports. Currently, European Union cars to the US face a 2.5% tax, while US cars to the European Union face a 10% tax.
A Dusseldorf-based magazine reported this week that Trump wants to eliminate all auto imports to the US from Germany. The claim, which cited unnamed US and EU diplomats but doesn't include any direct quotes, is unconfirmed. But the president has repeatedly taken aim at Europe's biggest auto exporter.
Trump aired grievances a in closed-door meeting with German Chancellor Angela Merkel last month, CNN reports, citing people familiar with the conversation. Merkel reportedly pushed back, noting that if Germany lowered auto tariffs for the US, they would also have to for other countries.
The German auto industry makes up one-fifth of total exports, and the US is its second-biggest destination after China, so any move by the Trump administration could have far-reaching consequences.
Premium manufacturers in the country would likely "immediately" lose money under a 25% auto tariff, a team of Evercore ISI analysts led by Arndt Ellinghorst wrote in a note to clients last week. They estimate losses in the luxury-vehicle market alone could add up to as much as €4.5 billion on up to 600,000 units, mostly sedans and hatchback variants.
BMW could get hit the hardest, they said, followed by Volkswagen and Daimler. BMW has the highest level of US-sourced vehicles of the three companies, at 35%. Volkswagen, the biggest auto manufacturer in the world, and Daimler have 17% and 26%, respectively.
It would take two to three years for automakers to move "meaningful" production to the US if manufacturing abroad became too expensive, analysts said. And companies with no factories in the US, including Volkswagen-controlled Audi and Porsche, are seen as particularly vulnerable.
"We sympathize with the idea of a level playing field," Ellinghorst said. "However, a 25% import duty (reported potential number) from vehicle imports outside NAFTA would certainly be like taking out the 'bazooka' on a global auto trade war."
Trade tensions are threatening an already hurting auto market in Germany. Diesel-powered vehicles — which make up 39% of the country's car market — fell 20% in the first three months of 2018, according to Reuters. That's after a German court ruled to ban diesel emissions in certain cities.
"Even if tariff barriers were dropped, the German autos market is unlikely to be under threat from an influx of American cars given consumer preferences for smaller more fuel efficient cars in the EU," BMI said.
source http://www.newssplashy.com/2018/06/finance-trumps-25-car-tariff-would-be_2.html
0 notes