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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.

2017 Jaguar F-Type slashes $3,600 off base model

It won't be quite such a drain on the checking account to hop into a Jaguar F-Type for the 2017 model year. The 2017 F-Type Coupe will start at $62,395 (after the $995 destination charge), which is $3,600 less than the 2016. Jag will also give the convertible a $2,700 price cut to begin at $66,395. Drivers won't really be giving up amenities with either of these. Both entry models will use the company's supercharged 3.0-liter V6 making 340 horsepower and a six-speed manual transmission. They'll come with partially electric six-way adjustable seats and a fixed metal roof for the coupe. New standard features will include a valet mode, solar attenuating windshield glass, and the brand's EliteCare warranty with five-years/60,000 miles of complimentary scheduled maintenance. The vehicles also still pack navigation and a surround sound stereo system. The 2017 F-Types will arrive at dealers in late spring 2016. The move to cut prices follows on Jag's decision in September to slash the cost of the XF 35t by over $5,200. Related Video: THE 2017 JAGUAR F-TYPE • 2017 Model Year F-TYPE lineup to include new $61,400 1 F-TYPE Coupe and new $65,400 1 F-TYPE Convertible entry models, reducing available cost of entry to the sports car family by $3,600 and $2,700 respectively • Standard Best-in-Class Jaguar EliteCare Ownership Package 2 Featuring New Vehicle Limited Warranty, Roadside Assistance, Jaguar InControl® Protect & RemoteTM and the Longest Complimentary Scheduled Maintenance Package of any Luxury Brand in the Market (Mahwah, N.J) – November 12, 2015 – Jaguar North America today announced it will expand the price range of the F-TYPE lineup in the U.S. for the 2017 model year to include new entry-level coupe and convertible models which lower the introductory price of the F-TYPE Coupe & Convertible to $61,400 1 and $65,400 1 respectively. The 2017 line-up of Jaguar sports cars will continue to consist of the F-TYPE, F-TYPE S and the range topping F-TYPE R. The addition of a new entry price level for 2017 Jaguar F-TYPE builds upon the pricing realignment strategy announced as part of The Next Generation of Jaguar for the 2016 model year in which an improved competitive value position was brought to market through a combination of new entry priced models, increased standard equipment and lower MSRPs that all help the brand target the heart of the luxury market.

Jaguar might not sell many XF Sportbrakes in the U.S., but here's why it's trying

One of the wonderful surprises of this year was when we learned that the U.S. would receive the XF Sportbrake wagon, and — less of a surprise — it's as much a looker as the previous generation. And while we're never one to look a gift car in the grille, it did seem strange that Jaguar would attempt to bring a wagon to the U.S., especially when it already had a similarly sized F-Pace crossover. So we spoke with Jaguar CEO Joe Eberhardt, Jaguar Design Director Ian Callum, and Jaguar's head of product planning in the U.S. to find out what prompted the company to bring the XF Sportbrake here. There were a few key reasons. One was simply that the folks at Jaguar really like the car, and they know that journalists like wagons. That doesn't exactly pay the bills for a car, but the enthusiasm is good. According to these people at Jaguar, though, they do believe there is a market for the car, and they expect to sell most of them on the coasts. Obviously, even if Jaguar sees a wagon market, it's still going to be much smaller than for crossover SUVs. But no matter how small that market is, Jaguar has an extra advantage for bringing the wagon here. The company knew it was going to make a wagon regardless of whether it would come to America, since the wagon market in Europe is so strong. In fact, Jaguar expects that half of XF sales in Europe will be Sportbrakes. So the majority of the engineering costs will be covered from those sales. The folks at Jaguar also told us that the car wasn't difficult to homologate for the U.S., so the cost of bringing it here was minimal. So in the worst case scenario that has the XF Sportbrake hardly selling in America, Jaguar isn't going to be seriously hurt. And if it's a success, then it's even more of a success. So the XF Sportbrake isn't purely a passion product, but that's OK. It means consumers have one more option to the multitude of crossovers in the U.S., and enthusiasts have the chance to own a super cool wagon. Also, although the XF Sportbrake is currently only available in America in top-level 380-horsepower S trim, Jaguar said lower trim levels and lower-output engines, all at lower prices, will be available here in the coming year or so. Meaning there will be even more ways to satisfy your wagon itch. Related Video: