We Finance! 2008 Land Rover Range Rover Sport Hse 4wd Power Sunroof Navigation on 2040-cars

Auto blog

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.

Win a trip to the Porsche Experience Center, including track time in a 911

Autoblog may receive a share from purchases made via links on this page. Pricing and availability is subject to change. No donation or payment necessary to enter or win this sweepstakes. See official rules on Omaze. Enter this sweepstakes today and get 150 bonus entries by signing up for the Autoblog Newsletter right here! The feeling of getting a new car is wonderful. Winning that new car, especially your dream car, feels even better, or so we would imagine. And Omaze is here with a chance to experience that feeling. Plus, between now and March 4, if you enter to win a car you'll also be entered to win a trip to the Porsche Experience Center. According to Omaze, one winner and a guest "will receive receive a one-day performance driving experience at the Porsche Experience Center in Los Angeles or Atlanta, which will include: 1.5 hours driving either a Porsche 911 GT3, a 911 Turbo S, or any vehicle available at the Porsche Driving Experience Center of equal or greater value (actual vehicle to be driven is subject to scheduling availability), on Porsche's private race track with a professional driver." Flights and accommodation will also be covered.  You’re probably asking yourself, what does it take to win? First of all, according to Omaze, "no donation or payment is necessary to enter or win this sweepstakes." $10 will get you 100 entries in this sweepstakes, while $50 will get you 1,000 entries and $100 will get you 2,000 entries. The best part? Each paid entry raises money for a worthy cause. See more about these causes at Omaze. Here are our favorite vehicle giveaways weÂ’ve found online this week. Win a 1958 Porsche 356 A - Enter at Omaze Every now and then, a car comes along in a sweepstakes that makes you wonder why in the world they would be giving something so beautiful away for pennies on the dollar.

It's a V8 party! Lexus IS 500, Cadillac Escalade and more | Autoblog Podcast #667

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. It's all V8s all the time this week, starting with the Land Rover Defender V8 unveiling, Lexus IS 500 F Sport Performance debut and pricing announcement on the Jeep Wrangler 392. Next, they move on to what they've been driving. Spoiler alert: That means more V8 talk. Zac has been driving the Cadillac Escalade with the 6.2-liter V8 and BMW M550i with its 4.4-liter twin-turbo V8. Greg and Zac take a pause from the V8 theme by discussing their shared time in our long-term Acura TLX. From this, they segue into a "Spend My Money" feature about garage lifts to finish the show. Autoblog Podcast #667 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 News 2021 Jeep Wrangler Rubicon 392 priced at nearly $75,000 2022 Land Rover Defender bulks up with a 518-hp V8 2022 Lexus IS 500 F Sport Performance brings back the V8 What we're driving BMW M550i Cadillac Escalade Acura TLX Spend my money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: