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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.

2013 Mini Cooper S Paceman All4

In just over a decade, Mini has expanded its modern range from the singular Hardtop model (launched in 2002) to a full range of little runabouts. The latest of these is the Paceman, and while European Editor Matt Davis gave us the full scoop on this model late last year, we recently spent time with the all-wheel-drive model just outside of Ponce, Puerto Rico.
It's weird, this Paceman. It slots in between the Hardtop and the Countryman (on which its based) in terms of size and functionality, and Mini says that it will appeal to a more style-conscious shopper. Key competitors range anywhere from the Nissan Juke on the low end to the Land Rover Range Rover Evoque on the high end.
After spending lots of time with the Countryman, we're convinced that maxi can still be Mini. And the same is true with this Paceman, too.

Mini officially reveals Frozen Black Countryman and Paceman

BMW has been offering Frozen editions of its cars for several years now highlighted by matte paint and very limited production, and now Mini is getting in on the game with Frozen Black versions of the Paceman and Countryman. Unlike our report from earlier in the week, these models will not wear the Batman-sounding Black Knight name, but instead, like the BMW models, will be dubbed Frozen Edition. That previous intel also had it that production of the Frozen Edition Minis would be limited to just 60 units. Now official, Mini has not confirmed how many - or few - of these limited edition models it would build.
The Frozen Black paint adds silicates to the lacquer finish creating a "matted impression," which sounds like it should be easier for owners to maintain and wash, although Mini still advises against waxing or polishing. This special paint will be offered on all S, Diesel and John Cooper Works versions of the Paceman and Countryman, though it's not clear as of this writing if any will be offered in the US. Mini's press release for the Frozen Black Paceman and Countryman is posted below.