1997 Bmw 528i Base Sedan 4-door 2.8l on 2040-cars

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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.

2014 BMW 4 Series Convertible is easy, breezy, beautiful

BMW debuted its 2014 4 Series Convertible today at the LA Auto Show, and the sporting two-door will feature a folding hardtop - like the convertible 3 Series before it - and be offered in 428i and 435i guises.
The 428i Convertible is equipped with BMW's 2.0-liter turbocharged inline four-cylinder engine, which pumps out 240 horsepower and 255 pound-feet of torque - good for sprinting from 0-60 miles per hour in 6.2 seconds. The 435i Convertible gets the 3.0-liter turbocharged inline six-cylinder engine, which steps up output to 300 hp and 300 lb-ft of torque. The topless 435i drops the 0-60-mph time to 5.5 seconds. Both cars come standard with an eight-speed automatic transmission, and BMW says that a manual transmission will not be offered on 4 Series Convertibles in the US market.
The 4 Series Convertible will be offered in Sport Line, Luxury Line and M Sport trims. Pricing starts at $48,750 for the 428i Convertible and $54,900 for the 435i. Head on below to peruse the (long) press release for details.

BMW X1 testing is underway

It was just a few weeks ago that we got our first glimpse of the next-generation BMW X1, riding around on a flatbed. Now, we have the first batch of images of the small crossover moving under its own steam.
Like the previous round of photos, BMW's psychedelic camouflage is on hand to obscure sheetmetal details, but our intrepid spies still managed to discover a bit about the new X1. It's internal code-name will be F48, and it will sit on the same platform as the next-generation Mini and the BMW 1 Series GT. And for those keeping track at home, those are both front-drive platforms.
The reasoning for the X1's new layout, though, is understandable. Front-wheel drive is more space efficient and affordable, which are kind of big deals to customers. The next X1 won't be limited to its front wheels, though, as BMW's xDrive system is almost a certainty on higher-end trims.