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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.

Driving the C8 Corvette, and previewing GM's electric future | Autoblog Podcast #617

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor James Riswick and Road Test Editor Zac Palmer. First they dive right in to the experience of driving the 2020 Chevrolet Corvette, followed by their review of the Mercedes-Benz GLE 350. Then they talk about the week's news, beginning with the whole slew of electric vehicles General Motors surprised us with at its EV Day. Next, they discuss the possibility of Porsche building a hybrid 911, as well as news about Ford's electric Transit van making its way to the U.S.. Last, but not least, they take to the mailbag to help a listener pick his next car in the "Spend My Money" segment. Autoblog Podcast #617 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 Driving the 2020 Chevrolet Corvette Stingray Driving the 2020 Mercedes-Benz GLE 350 GM EV Day: Cadillac Celestiq and Lyriq, GMC Hummers and more A hybrid Porsche 911? Ford Transit electric commercial vans coming to U.S. Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

Cigarette Racing unveils the AMG GT S-inspired 50-foot Marauder

The Cigarette Racing stand at the Miami Boat Show this morning hosted the latest in the eight-year collaboration between Mercedes-AMG and Cigarette Racing: the AMG GT S parked next to the fast-boat it inspired, the Cigarette Racing 50 Marauder GT S Concept. The vinyl ester resin and fiberglass go-fast boat is more than a matching Solarbeam yellow paint job with the coupe that inspired it. Like other carmakers who have partnered with companies outside the industry - such as Nissan's recent tie-up with NASA - there's an exchange of technology involved; Cigarette said that working with AMG on composites and bonding helped them drop 1,000 pounds off the Marauder GT S Concept compared to the standard Marauder twin-engine, which comes in at 14,200 pounds. Customers who order standard Marauders can request the weight reduction (for a price), but we were told that unless they plan to spend most of their time above 100 miles per hour, the extra weight contributes to a smoother ride. Mercedes head designer Gordon Wagener penned the exterior paint job and worked with Cigarette to design the cockpit trim, which would have seen him in familiar surroundings: Cigarette Racing owner Skip Braver is a long-time AMG customer, and the boat company based its bespoke department on the AMG Design Studio in Affalterbach. Every one of its boats is handbuilt in its factory in Opa-locka, Florida using some of the same processes seen in automaking, like bar codes to track the progress of hulls and components, computer controlled paint samples with digital files that can be sent around the world for matching, and doing all the stitching in-house to keep tabs on quality control. The engine compartment holds two, nine-liter, four-valve, DOHC, quad-cam, twin-turbocharged Mercury Racing engines with all-aluminum blocks, each one of them good for an electronically-limited 1,550 pound-feet of torque, and either 1,350 horsepower or 1,550 horsepower depending on whether you run regular 91-octane fuel or 116-octane race fuel. So yes, that's 3,100 hp and 3,100 lb-ft at once, if you go all out. Mercury says they're the most powerful powerful emissions-certified gas-powered marine engines you can buy. The engines don't have knock sensors, though, so you have to turn a key to register the kind of fuel you're putting in, and you can switch from one to the other when two 150-gallon tanks are down to 10-percent full.