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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.

Rolls-Royce hosts first ‘Cars and Cognac’ event in the U.K.

For more than 100 years, Rolls-Royce has produced some of the world's most desirable and expensive automobiles. The British automaker has now gone one step further, by instantly making any future "cars and coffee" gatherings pale in comparison to the brand's first-ever "Cars and Cognac" event, held June 8, in the U.K. Yes, we're guessing our invitation got lost in the mail, too. "The 'cars and cognac' meet demonstrated the wonderful spirit of our customers as well as their deep passion for the brand," said Julian Jenkins, regional director for Rolls-Royce Motor Cars. "This evening was reflective of the rich dialogue between Rolls-Royce and its patrons; a truly unique and extremely rare relationship, one which we are privileged to nurture." We couldn't help but notice the comment about "rich dialogue," which is fitting for a brand whose least expensive offering, the Ghost sedan, starts at roughly $300,000. The evening borrowed heavily from California car culture, where cars and coffee meet-ups can see anything from slammed economy cars, customized muscle cars, or hyper-cars with multimillion-dollar prices gather at the same place. Of course, very few — i.e. none whatsoever — have featured cognac tastings conducted out of a customized Rolls-Royce-endorsed picnic basket. That's correct, a sommelier stationed at the tail-end of a Phantom sedan was handing out quaffs of fine cognac courtesy of an official Rolls-Royce Picnic Hamper. This is a thing, and you know you want one. Other cars making a cameo appearance during dinner included a Rolls-Royce Dawn Black Badge fitted with the new "Aero Cowling." This hard tonneau cover fits snugly over the rear seats, to give the 593-horsepower convertible the look of a true two-seater. The event was held at the Soho Farmhouse, a member's only club located on a 100-acre property in Oxfordshire, approximately two hour's drive northwest from central London. On its homepage, Soho Farmhouse details its indoor and outdoor pools, multiple club rooms for special events, tennis courts, horse stables, football pitch (that's soccer for you silly Americans), and the intriguingly named Electric Barn Cinema. The entry-level membership, called Local House, with access only to the Soho Farmhouse facility, starts at about $1,700 at current exchange rates. To have access to all Soho House properties around the globe, the price runs around $2,200 (depending on whether your membership application is accepted).

Rolls-Royce Cullinan and BMW 8 Series spied south of Death Valley

Recently, we've stumbled upon a number of manufacturer prototypes running around. Usually, spy photographers sit and wait for hours with cameras primed in order to get a few shots of a car. We just got lucky. First, we caught the new Chevy Corvette ZR1 convertible during a Facebook Live video. A week or so later McGraw snapped a video of a ZR1 coupe cruising in his neck of the woods. Today, our ace photographer Drew Phillips caught a BMW test fleet filling up the new Rolls-Royce Cullinan and 8 Series coupe in Baker, Calif. Baker sits along Interstate 15, about halfway between Los Angeles and Las Vegas. It's just south of Death Valley, and, being late August, suggests that BMW was doing some hot weather testing. Drew was filling up his car when the fleet rolled in. There were at least two of the new king Rolls and a single 8 Series. Both cars were wearing a full swirl camouflage wrap. It's not an uncommon place to see prototypes. Still, seeing a whole fleet roll in is quite a sight. We've seen official photos of the Cullinan before, but these pictures give us our best view of the profile and rear we've had so far. From a distance, it looks like a high-riding version of the new Phantom with a hatch in place of the trunk. The taillights are obviously just filler units. Expect the final version to look very much like the squared off LED units on the Phantom. Likewise the interior and engine should be straight from the Phantom. That means a twin-turbocharged V12, though power is likely to be sent to all four wheels. We've seen the full BMW 8 Series concept a few times now. The proportions on the production car look the same, with a long hood and even longer wheelbase. The nose isn't quite as aggressive as the concept, but we expected the styling to be toned down to meet crash and safety standards. As for engines, look for six, eight and (hopefully) 12-cylinder power under the hood. A plug-in variant is also expected. Both cars have been in development for a long while, so look for full debuts sometime this auto show season. Maybe we'll happen upon some more test mules between now and then. Related Video: