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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.

550-hp Jaguar F-Pace SVR revealed ahead of New York Auto Show

"I love this car." So said Jaguar designer Ian Callum, quite genuinely, as the Jaguar F-Pace SVR drove onto the stage at the company's new headquarters in Mahwah, N.J. Despite accepting and even embracing Jaguar's decision to produce SUVs, it's quite obvious (because he says so repeatedly) that Callum is still a guy with a lust for high-powered sports cars. The F-Pace SVR melds these two elements to create something he gleefully describes as "ridiculous." Boasting Jaguar Land Rover's now-familiar supercharged 5.0-liter V8, the SVR produces 550 horsepower and 502 pound-feet of torque. Jag estimates it'll hit 60 mph in 4.1 seconds and a top speed of 176 mph, which will make it one of the quickest and fastest SUVs on the road when it arrives in dealerships this summer. View 15 Photos It's not just the big engine, however. Upgraded mechanical improvements and enhancements include stiffer springs, wider and lighter forged alloy wheels (21- or 22 inches), bigger brakes (15.5-inch front, 15.6-inch rear), an electronic active rear differential, a variable active exhaust that's 14.5 pounds lighter than the standard one, and specially tuned software for the adaptive suspension, electric steering, eight-speed automatic, all-wheel drive and Dynamic Driving Mode. Callum's team also massaged the aerodynamics with larger air intakes, rear bumper side strakes, and fender vents that lower pressure in the wheel arches to reduce lift and increase cooling. A unique hood features vents designed to, well, vent hot air from the engine compartment. There are also wheel arch extensions and lower body moldings to create a more muscular appearance, while the rear sees fat quad tailpipes that one would assume should bark and burp like any good Jaguar SVR. Inside, there are thinner, light-weight sport seats done up in snazzy quilted leather. The rear seat also gets sportier seats with a similar fixed headrest design as those up front. The pistol-like sport gear selector shifter, as used in the Jaguar F-Type, replaces the standard rotary shifter design. It still takes up way too much room on the center console. Pricing starts at $80,985. One would assume Mr. Callum will gets his for less than that. Related Video:

The Jaguar E-Pace shows off a rather cab-forward look in these spy shots

It seems the Jaguar F-Pace may be getting a little sibling soon. A smaller crossover, which we expect will be called the E-Pace, has been caught during winter testing. The SUV seen here appears to be sized like compact luxury crossovers such as the Audi Q3 and BMW X1. This also fits with Jaguar's brand director's statements that it has been considering an SUV for this class. Much of the car is well camouflaged, but taking a close look, this E-Pace has a surprisingly short dash-to-axle ratio. It's not as drastic as the electric I-Pace concept, but there's so little space between the bumper and the base of the windshield that we sincerely doubt that a longitudinal inline-4 or V6 could be lurking under the hood. And, if the E-Pace does in fact use a transverse-mounted engine, it probably doesn't share a platform with any of its rear-drive-based stablemates. It may seem strange that a company known for its rear-drive cars is considering a transverse, front-drive-based vehicle, but there are reasons it may be going this way. For one thing, Jaguar's brand director said he wasn't sure that the company's existing platforms could be scaled down far enough for such a compact crossover. That would seem to preclude using an existing rear-drive platform or developing a totally new one. In fact, it only leaves one real option in the Jaguar Land Rover line for this vehicle: the Range Rover Evoque platform, which is also shared with the Discovery Sport. It's a small SUV platform with a transverse layout. It's also currently available and should be cheap to adapt; perfect for capitalizing on the hot crossover market. We just hope Jaguar can inject some more fun into it than Land Rover did with the Discovery Sport. Using that platform also means Jaguar would probably borrow one or more engines from the Evoque and Discovery Sport. In the US, both models are only offered with a turbocharged 2.0-liter inline-4 making 240 horsepower. Overseas, both vehicles are available with 2.0-liter turbodiesel four-cylinders, making either 150 or 180 horsepower too. Considering that the 180-horsepower diesel model will arrive in the US under the hood of the Jaguar XE, it's possible that it will show up in the E-Pace as well. Don't expect any of the overseas manual transmissions to make the trip, though. Jaguar only offers a manual on the F-Type sports car in the US, so there really isn't any reason to add one to a small crossover.