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VW CEO Winterkorn happy with rebounding Seat, Skoda

Martin Winterkorn is a happy man: Volkswagen is putting up big numbers in North America, its latest field of dreams, Audi, is breaking records every month, there are exciting cars in the pipeline - from Bugatti down to the XL1, Porsche's digestion continues, and now Skoda and especially Seat are turning in no-questions performance.
It seems Skoda has been on the ups for years, making the most of keen pricing and modern redesigns of the chassis and tech it gets handed down from big brothers VW and Audi. Winterkorn predicts the Czech brand will just about double its 2010 sales by 2018, going from 762,000 to 1.5 million.
Seat, on the other hand, wasn't just on the hotseat a year-and-a-half ago, phrases like "uncertain future" - code for "possible demise" - were rumbling in the background. A new CEO was brought in, new money and new models were thrown against the wall, and the efforts have stuck. The Spanish brand has hit three strong chords with Winterkorn, with increased sales, strong performance in China and anticipated models due. If this keeps up there won't be much left for him to do but, a la Alexander the Great, break down and cry with no worlds left to conquer.

Seat is all grown Up! with a Mii of its own [w/video]

After a seemingly endless stream of Up! concept cars rolled out by Volkswagen over the past few years, the production version is finally upon us. But don't think for even a second that this is the end. No, it's just the beginning, with numerous Up-based models to follow, and not all of them will carry a VW badge.
Skoda was the first VW division to get its own version called the Citigo, and now Seat is following suit with a rebadged version of its own dubbed Mii. Launching in Spain next month before rolling out across Europe in the spring, the Mii will be available initially as a three-door before the five-door variant follows next year.
Overseas buyers will be able to choose between three trim levels, two equipment packages (Chic with chrome trim and Sport with firmer suspension and tinted windows) , two engine specs (1.0-liter threes with 59 or 74 horsepower), two transmissions (manual or robotized) and an optional Economotive pack with stop-start engine management and regenerative braking.

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.