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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 i8 and M1 reunited in mid-engined Bavarian retrospective

The BMW i8 may be the cutting edge today – it did, after all, just win our Technology of the Year award – but as rare an event as it is, it's not the first time that BMW has put out an extreme mid-engined supercar. The last time was in the late 1970s with the M1, a Giugiaro-designed, (partially) Lamborghini-developed piece of exotic machinery. The better part of four decades later, Auto Express has brought together an original M1 with its spiritual (if much more advanced) successor for the video comparison that was bound to happen. The question we can't help but ponder, initial sales success aside, is whether the i8 will mature into a classic in the same way the M1 has.

Alpina B3 Bi-Turbo offers Europeans a pre-M3 performance 3er

Anyone that's spent some time behind the wheel of the Alpina B7 probably knows enough to understand what Americans are missing with this, newly launched Alpina B3 Bi-Turbo. We've got no lack of M models to choose from, it's true, but the Alpina touch offers a completely different driving character, with almost as much performance. A pity then that Alpina has no plans that we've heard of to bring this one across the pond.
Filling the gap between the current 3 Series offerings and the outgoing M3 (we're not likely to even see the new M3 and M4 until September's Frankfurt show, nor be able to buy one until after that), the B3 Bi-Turbo brings serious performance to the F30 3er. As the name indicates, two turbochargers are used to force-feed BMW's 3.0-liter inline-six engine, for a total output of 410 horsepower and 442 pound-feet of torque. That power offers a big jump from even the BMW 335i sedan, and will push the B3 to 62 miles per hour in just 4.2 seconds and on to a top speed of 190 miles per hour. Alpina's own sport suspension underpins the thing, while the power is modulated by way of a eight-speed automatic transmission.
The new B3 will be easily recognizable thanks to its "Classic" 20-inch, 20-spoke Alpina wheels, and a rather subtle, aero-enhancing body kit. No pricing has yet been announced, but you will find a host of additional information in the attached Alpina press release below.