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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.

Everybody's doing flying cars, so why aren't we soaring over traffic already?

"Where's my flying car?" has been the meme for impending technology that never materializes since before there were memes. And the trough of disillusionment for vehicles that can take to sky continues to nosedive, despite a nonstop fascination with flying cars and a recent rash of announcements about the technology, particularly from traditional automakers. Earlier this month, Toyota applied for an eye-popping patent for a flying car that has wheels with spring-loaded pop-out helicopter rotors. The patent filing says the wheels/rotors would be electrically powered, while in on-land mode the vehicle would have differential steering like tracked vehicles such as tanks and bulldozers. At an airshow in July, Aston Martin unveiled its Volante Vision Concept, an autonomous hybrid-electric vertical takeoff and landing (VTOL) vehicle it developed with Rolls-Royce. Aston says the Volante can fly at top speeds of around 200 mph and bills it as a luxury car for the skies. Audi used the Geneva Motor Show in March to unveil a flying car concept called the Pop.Up Next it developed with Airbus and Italdesign. If the Pop.Up Next, an electric and autonomous quadcopter/city car combo, gets stuck in traffic, an app can be used to summon an Airbus-developed drone to pick up the passenger compartment pod, leaving the chassis behind. Audi said that the Pop.Up Next is a "flexible on-demand concept that could open up mobility in the third dimension to people in cities." But Audi also acknowledged that at this point it has no plans to develop it. The cash-stoked, skies-the-limit Silicon Valley tech crowd is also bullish on flying cars. The startup Kitty Hawk that's backed by Google co-founder Larry Page announced in June that it's taking pre-orders for its single-seat electric Flyer that's powered by 10 propellers and is capable of vertical takeoffs and landings. The current version can only fly up to 20 mph and 10 feet in the air and has a flight time of just 12 to 20 minutes on a full charge. The Flyer is considered a recreational vehicle, so doesn't require a pilot's license. Uber says it plans to launch its more ambitious Elevate program and UberAIR service in 2023. "Uber customers will be able to push a button and get a flight on-demand with uberAIR in Dallas, Los Angeles and a third international market," Uber Elevate promises on its website.

Chevy Blazer and Easter Jeeps | Autoblog Podcast #576

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and Assistant Editor Zac Palmer. They do a rundown of the latest news, including rumors of the Toyota Tundra and Tacoma sharing a platform, Jeep's insane Easter Safari concepts and an upcoming "entry level" performance Ford Mustang. Then they talk about driving the new Chevrolet Blazer and Jeep Grand Cherokee Trailhawk, and compare driving the Genesis G70 to the Kia Stinger. Finally, they take to Reddit to spend someone's money on a new crossover. Autoblog Podcast #576 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Toyota Tacoma and Tundra to share a platform? Jeep Easter Safari concepts "Entry level" performance Mustang? Cars we're driving: 2019 Chevy Blazer 2019 Jeep Grand Cherokee Trailhawk 2019 Genesis G70 Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: