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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.

Bristol returning under BMW power

BMW has had its hand in reviving once-great British automakers, and now its playing its part in the rebirth of another. That marque is Bristol Cars, the automotive offshoot of the Bristol Aeroplane Company. Bristol hand-made luxury sports cars between 1945 and 2011 when it went belly-up, and ever since there's been an effort to bring it back. That effort is now picking up steam, and is set to launch later this year – marking the 70th anniversary of the marque's founding. It's tentatively known as Project Pinnacle, and while future versions are slated to pack plug-in hybrid power developed in collaboration with Bristol's sister company Frazer-Nash (which is now focused on battery technology), the first new Bristol in a dozen years is slated to pack BMW power. Details accompanying the announcement below are few and far between, but one way or another, it won't be the first time BMW will have played a part in breathing new life into a British automaker. The Bavarian company of course revived Mini, and made Rolls-Royce what it is today, but was also was briefly the custodian of Rover, Land Rover and Bentley, and has been linked to a potential (if unrealized) effort to bring back Triumph. Its role in Bristol's rebirth under Project Pinnacle may be less involved than all of those, but at very least we'll know that the new British GT will have a proper engine under the hood. BRISTOL CARS CONFIRMS POWERTRAIN FOR 70th ANNIVERSARY PROJECT PINNACLE • First new Bristol car in more than a decade to feature BMW powerplant • High performance powertrain earmarks resumption of the history between Bristol, Frazer-Nash and BMW dating back to 1930s London, England, June 2015 – Iconic British carmaker, Bristol Cars, makes the second in a series of announcements today about its first new car in more than a decade, codenamed Project Pinnacle. Project Pinnacle, which is set for launch later this year, will be a 70th anniversary celebration model, referencing Bristol Cars' rich heritage and executed as a modern take on the best of British craftsmanship, engineered to excite and satisfy as a high performance Bristol car. Bristol Cars is deeply proud to announce that the machinery underpinning this high performance new vehicle will be a BMW powerplant. The result will a sublime British sportscar with characteristics cultured uniquely for the first new Bristol since 2004.

BMW M4 Convertible poised for Goodwood unveil

It shouldn't be a shock that BMW is working on a convertible version of the M4. Not only have we caught it testing twice, but this is an automaker that seems willing to build a vehicle for nearly every buyer's needs. Evo claims that the high-performance droptop is going to debut at this year's Goodwood Festival of Speed in England from June 26-29.
Judging from the spy shots we've seen, the M4 Convertible will consist of a retractable hard top like the 4 Series cabrio. Other than the roof, there aren't expected to be many changes from the coupe. The engine will be the same turbocharged, 3.0-liter inline six-cylinder engine, but the added weight of the roof and its mechanism may take a small bite out of performance.
We spoke to BMW USA about the rumor and were told that it has no comment at this time. After the M4 Convertible, Evo claims that BMW is working on a M4 Gran Coupe. How that would be all that different from an M3, isn't exactly clear.