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Lil Wayne's daughter gifted Ferrari GTO, BMW X4 for 16th birthday [w/video]

It must be nice to have ludicrously rich parents. Rapper Lil' Wayne's daughter Reginae recently celebrated her 16th birthday with a huge party in Atlanta. Where many teens would be overjoyed just to get a family hand-me-down for a first car, the rapper's daughter got two brand-new vehicles – a BMW X4 and a Ferrari 599 GTO. The X4 would certainly be extravagant by itself, but it's not totally without precedent. Anyone who watched even a snippet of MTV's old show My Super Sweet 16, probably saw a few vehicles that were just as expensive. However, the concept of any newly licensed teen behind the wheel of a Ferrari is absolutely terrifying to us. This one is even crazier, with 661 horsepower and a chassis capable of lapping Ferrari's Fiorano test track quicker than an Enzo. Of course, with just 599 built, Reginae could probably just park the coupe and let it appreciate enough to finance her next big party. The BMW is reportedly going to be her daily driver, anyway. According to TMZ, Reginae's mother and stepfather bought her the Ferrari with Lil' Wayne's blessing. They believe their daughter can handle the 599 GTO, which shows some serious – if misguided – trust. Check out the video below to see the cars and her party. Related Gallery 2015 BMW X4 View 55 Photos Related Gallery Ferrari 599 GTO View 15 Photos News Source: TMZ via YouTube BMW Ferrari Car Buying Ownership Videos ferrari 599 ferrari 599 gto

The UK votes for Brexit and it will impact automakers

It's the first morning after the United Kingdom voted for what's become known as Brexit – that is, to leave the European Union and its tariff-free internal market. Now begins a two-year process in which the UK will have to negotiate with the rest of the EU trading bloc, which is its largest export market, about many things. One of them may be tariffs, and that could severely impact any automaker that builds cars in the UK. This doesn't just mean companies that you think of as British, like Mini and Jaguar. Both of those automakers are owned by foreign companies, incidentally. Mini and Rolls-Royce are owned by BMW, Jaguar and Land Rover by Tata Motors of India, and Bentley by the VW Group. Many other automakers produce cars in the UK for sale within that country and also export to the EU. Tariffs could damage the profits of each of these companies, and perhaps cause them to shift manufacturing out of the UK, significantly damaging the country's resurgent manufacturing industry. Autonews Europe dug up some interesting numbers on that last point. Nissan, the country's second-largest auto producer, builds 475k or so cars in the UK but the vast majority are sent abroad. Toyota built 190k cars last year in Britain, of which 75 percent went to the EU and just 10 percent were sold in the country. Investors are skittish at the news. The value of the pound sterling has plummeted by 8 percent as of this writing, at one point yesterday reaching levels not seen since 1985. Shares at Tata Motors, which counts Jaguar and Land Rover as bright jewels in its portfolio, were off by nearly 12 percent according to Autonews Europe. So what happens next? No one's terribly sure, although the feeling seems to be that the jilted EU will impost tariffs of up to 10 percent on UK exports. It's likely that the UK will reciprocate, and thus it'll be more expensive to buy a European-made car in the UK. Both situations will likely negatively affect the country, as both production of new cars and sales to UK consumers will both fall. Evercore Automotive Research figures the combined damage will be roughly $9b in lost profits to automakers, and an as-of-yet unquantified impact on auto production jobs. Perhaps the EU's leaders in Brussels will be in a better mood in two years, and the process won't devolve into a trade war. In the immediate wake of the Brexit vote, though, the mood is grim, the EU leadership is angry, and investors are spooked.

BMW could add all-electric Mini, X3 SUV

BMW's Mini sub-brand will add a battery-electric variant as the company looks to meet stricter emissions mandates around the world, according to an interview Bloomberg News conducted with CEO Harald Krueger. BMW is also planning an all-electric version of its X3 SUV and may start greening up models as large as its 7 Series sedan, though that prospect is far cloudier. The all-electric Mini will be available to the public as soon as 2019, while the battery-electric X3 SUV will likely start sales the following year. BMW didn't offer specifics about how much those models would cost or far they will be able to travel on a full electric charge, with Krueger only saying single-charge ranges would be "competitive" with other all-electric models. BMW this summer upgraded the battery in its i3 electric vehicle and boosted its single-charge range by about 40 percent to 114 miles. As for demand for BMW's i sub-brand vehicles, US sales of the i3 through September fell 27 percent to almost 5,800 vehicles, while sales of the i8 plug-in hybrid are down 19 percent to about 1,100 units, BMW said on Monday. Meanwhile, word got out earlier this year that BMW may dedicate the Rocketman concept hatchback as Mini's entrant to the electric-vehicle sector. BMW actually used a Mini as its first electric testing vehicle. The Mini E was produced in 2009 and 2010 before giving way to the BMW ActiveE, which was actually a converted 1-Series vehicle. Eventually, BMW started producing the i3. Related Video: Featured Gallery Mini Rocketman Concept View 25 Photos News Source: Bloomberg News Green BMW MINI SUV Electric