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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.

Mini reveals new John Cooper Works concept ahead of Detroit

BMW effectively hit the reset button when it unveiled the new Mini at the LA Auto Show last month, opening the door to a whole raft of new variants to follow - and this is the first.
Set to be unveiled at the Detroit Auto Show next month is the new Mini John Cooper Works Concept, a show car that previews the next hot hatch from the Anglo-Saxon automaker. Mini isn't saying much about what makes it tick, focusing instead of the design that sets it apart from the standard version we've already seen.
This JCW concept features a lustrous grey paintjob with bright red accents, 18-inch alloys and an upgraded aero kit, all aimed at making the Mini look that much sportier. It's got bigger air intakes where the fog lights would be, LED headlamps, a black grille frame, side skirts, a rear bumper with diffuser insert and a roof-mounted spoiler.

Mini five-door spotted alongside next Clubman

Is Mini constricting its staggering array of model variants or expanding it? That depends largely on which way you look at it. Because while some models may not make the cut as the second-generation family is gradually replaced with the third, others appear to be joining the fold. They just might not bear different model names.
Take, for example, the vehicle pictured here. It's a five-door version of the latest Mini hatchback, but won't necessarily replace the Clubman wagon - particularly since that's precisely what appears to be pictured alongside it. While the five-door hatch appears to simply add an extra set of portals - full-size ones, from the look of it, not backwards-opening half-doors - to the existing three-door version, the new Clubman appears not only longer but also wider, giving it that much more interior space.
Of course that could all be an optical illusion generated by swirly camouflage designed to do just that, but from the apparent readiness of both models, we'll find out one way or another soon enough - whatever they're called.