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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.

'Rich Kid of Instagram' victim of supercar arsonists

A 19-year-old in the UK is smarting after the possibility that his prolific social media use may be at the heart of four family-owned supercars going up in flames in barely a week. Aleem Iqbal has thousands of followers on Twitter and Instagram paying attention to his frequent posts about the high-priced cars he's driving. He's even been featured on the Tumblr page Rich Kids of Instagram. It appears that some people might not be so smitten with him, though.
According to his Twitter profile, Iqbal owns Platinum Executive Travel, a luxury car rental company in the England, and UK newspaper The Telegraph claims the company is also owned by Iqbal's father. On June 6, cameras caught three hooded men setting fire to a Lamborghini Aventador Roadster leased by the company for a wedding. A few days later, two Audi R8 Spyders and a Bentley Continental Flying Spur from Platinum also got the torch, and two men were caught on camera setting the blaze. Nobody was hurt in either of the attacks, and the Aventador appeared to be repairable with the fire causing most damage to the passenger seat and dashboard. Police are still investigating both of the crimes.
According to The Telegraph, Iqbal believes that the arsons could have stemmed from jealousy towards him and his family's business. Regardless, setting fire to a bunch of cars that are likely insured isn't a great way to show displeasure.

Cheap shots in the 'cheap' Bentley: What can you get away with in a Flying Spur V8?

You know the feeling when you think you've finished something brilliant, then you sit down and take a look at it with fresh eyes and realize that, not only is it crap, but it was never really a good idea in the first place? That was me, a couple of weeks ago, as I was looking through the footage I shot while driving the 2021 Bentley Flying Spur V8. Yes, after seeing reactions to the car on social media, I actually thought it would be funny to do a tongue-in-cheek bit where I suggested that Bentley provide owners with a feature designed to help keep "poor" people away. It was a half-baked idea, conceived to be lighthearted and in a vague nod to British humor. The point was not to make fun of anybody's financial situation (except my own, in a round-about self-deprecating way), but the product turned out a bit, well, cringe-inducing. Out of selfish desire not to lose the work that went into it (or another opportunity to talk about this gorgeous car), I decided to repurpose it with some help from "Dr." Byron. As you can see, he's doing house calls now.  I've been reviewing cars for more than a decade now, and even with that much time under my belt, I can still count on my hands the number of truly remarkable cars I've had the chance to drive. This Flying Spur stands out as the most expensive, the most exclusive, and, well, pretty much just the most car I've ever experienced. As I alluded to in my initial write-up, this is the kind of car that causes somebody like me — a person of comfortably modest means — to rethink even the most fundamental aspects of an otherwise conventional road trip.  Over the years, I've had people compliment, degrade and otherwise question my life choices based on cars I barely put 100 miles on. It's part of the gig. I was once rather directly approached and asked for money while gassing up a 2012 Porsche Cayman; no "hello," no preamble, no sugar-coating. Just, "Can I have some money?" So no, that tweet didn't actually make me self-conscious about cruising around in such a valuable and exclusive automobile, but the mere act of driving it did, and the discomfort was even further juiced by my knowledge that what I was driving wasn't even the "expensive" Flying Spur. I found myself wanting to tell people, "Look, you really shouldn't be that impressed. This is the cheap one." The question follows thusly: What is a cheap Bentley, and why does it need to exist?