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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 celebrates 30 years of M5 with 600-hp super sedan

It's been 30 years since BMW rolled out the first M5, and while displacement and cylinder count may have fluctuated over those past three decades, output has only increased. The first-generation E28 M5 packed a 3.5-liter inline-six with 252 horsepower and 243 lb-ft of torque. The second-gen E34 model that followed added an extra 100 cc (and later 200 more) to produce 310 hp and 266 lb-ft. The E39 followed with a 4.9-liter V8 churning out 394 hp and 369 lb-ft, replaced by the award-winning 5.0-liter V10 in the E60 with its 500 hp and 380 lb-ft before BMW rolled out the latest model with a 4.4-liter V8, its twin turbos making up for the two dropped cylinders and 600 cc of displacement to produce 560 hp and 502 lb-ft of torque. But even that's being left in the dust by the new special edition you see here.
The 30th Anniversary Edition BMW M5 packs that same 4.4-liter twin-turbo V8, but cranks the output up to a nice, round 600 horsepower and a solid 516 lb-ft of torque to go with it. That makes it more powerful, not only than any M5 that's come before it, but also any of its rivals. The Jaguar XFR-S and Audi RS6 Avant (the latter only available as a wagon and not in North America) both lag behind this ultimate of Ultimate Driving Machines; only the Mercedes-Benz E63 AMG trumps it on torque (but not on power), with 531 lb-ft in stock form and 590 in the S-Model.
As a result, the 0-60 time drops from a quoted 4.2 seconds in the stock M5 to a scant 3.7 in the 30th Anniversary edition (just one tick behind that twistier E63 S). The special M5 also comes with the Competition Package as standard, as well as a dedicated control module for the Active M Differential, a special Frozen Dark Silver matte finish, 20-inch alloys and black chrome badges. Special badges abound inside as well, where you'll also find black leather and Alcantara upholstery and aluminum trim. There'll even be a dedicated one-day course offered to owners at The Thermal Club in Palm Springs, CA, to further sweeten the deal.

As BMW i3 US launch nears, more details discovered

Think of the BMW i3's gas-powered range-extender as akin to driving around with a middle linebacker in the back seat. Except that football player will have a hard time pushing the car 60 miles or so once the battery runs out. Thankfully, he won't prevent you from getting a nifty tax credit either, according to BMWBlog, which isn't affiliated with the company. The i3's front storage compartment is not watertight. Here in the US, where the i3 will be available in short order, BMW will offer an optional i3 plug-in vehicle with a range extender that will have a 1.9-gallon capacity gas tank. That sounds a good deal smaller than the 2.4-gallon tank used in Europe, but the two are actually the same, the US tank is simply limited to the smaller size, Dave Buchko, from BMW's product and technology communications department, told AutoblogGreen. The complete range extender system – including the tank, the engine, and all related hardware – adds about 265 pounds to the 2,634-pound curb weight of the i3 EV and the extra weight in turn adds about a second to the EV's 0-to-60 time of seven seconds flat. Adding the range-extender won't make the US government take any longer to dole out a $7,500 tax credit for the i3, though. We also learned that the i3's front storage compartment is not watertight since it is only meant to hold the mobility kit and the 110-volt charging cord. BMW recently increased its production of the i3 at its German factory from around 70 units a day to about 100 due to better-than-expected demand. Check out our First Drive impressions of the model here.