E46 M3, Rebuilt Title 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.

BMW M4 Concept bows, takes handoff from M3 Coupe

Remember how, when the first BMW M4 Concept images leaked earlier today, we told you the official information would be coming later this evening? Well, scratch that. The whole kit and caboodle is now online, meaning all the official details are below, as well as a full gallery of high-res images above.
The replacement for the M3 Coupe, the Concept M4 Coupe shares a number of styling similarities with its dearly departed forbearer. To us, it's kind of like a mishmash of greatest hits from the new 4 Series and the old M3. The 4 Series headlights have grown on us, and the side grilles, which are part of BMW's Air Curtain and Air Breather system, are functional.
The power dome in the hood is smaller than on the M3, but is of a similar shape, while the rear diffuser and exhaust treatment look like they're lifted straight from the old car, aside from being finished in carbon fiber. Speaking of which, the carbon fiber roof sports a new touch, a cool BMW M tri-color that runs the length of the roof on the driver's side. The 20-inch M alloy wheels come in a twin five-spoke design, which has sort of become a calling card of BMW's M cars in recent years. Hiding behind those meaty wheels are M's carbon-ceramic brakes.

Defying Trump, major automakers finalize California emissions deal

WASHINGTON — The California Air Resources Board (CARB) and major automakers on Monday confirmed they had finalized binding agreements to cut vehicle emissions in the state, defying the Trump administration's push for weaker curbs on tailpipe pollution. The agreements with carmakers Ford Motor Co, Volkswagen AG, Honda Motor Co and BMW AG were first announced in July 2019 as voluntary measures prompting anger from U.S. President Donald Trump. A month later, the Justice Department opened an antitrust probe into the agreements. The government ended the investigation without action. The Trump administration in March finalized a rollback of U.S. vehicle emissions standards to require 1.5% annual increases in efficiency through 2026. That is far weaker than the 5% annual increases in the discarded rules adopted under President Barack Obama. The 50-page California agreements, which extend through 2026, are less onerous than the standards finalized by the Obama administration but tougher than the Trump administration standards. The automakers have also agreed to electric vehicle commitments. Volvo Cars, owned by China's Geely Holdings, said in March it planned to join the automakers agreeing to the California requirements. It has also finalized its agreement. The settlement agreements say California and automakers agreed to resolve "potential legal disputes concerning the authority of CARB" and other states that have adopted California's standards. In May, a group of 23 U.S. states led by California and some major cities, challenged the Trump vehicle emissions rule. Other major automakers like General Motors Co, Fiat Chrysler Automobiles NV and Toyota Motor Corp did not join the California agreement. Those companies also sided with the Trump administration in a separate lawsuit over whether the federal government can strip California of the right to set zero emission vehicle requirements. Ford said the "final agreement will reduce emissions in our vehicles at a more stringent rate, support and incentivize the production of electrified products, and create regulatory certainty." BMW said "by setting these long-term, predictable, and achievable standards, we have the regulatory certainty that is necessary for long-term planning that will not only reduce greenhouse gas emissions but ultimately benefit consumers as well."