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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.

Jaguar with claws: 592-hp XE SV Project 8 Collector's Edition

A few years ago, and to much fanfare, Jaguar launched the F-Type Project 7. It was Jaguar Land Rover's Special Vehicle Operations (SVO) unit's first Collector's Edition car. It now has a successor – with four doors. Jaguar has announced the XE SV Project 8 Collector's Edition, which will get its official debut at the Goodwood Festival of Speed. Project 8 is as a 592-horsepower sedan that the automaker is calling "the most extreme Jaguar ever." It's powered by a specially tuned version of the company's 5.0-liter V8 engine, which will make it Jaguar's most powerful vehicle ever put into production. It will be limited to just 300 examples hand-built at SVO's Technical Centre in Coventry. As for how much it'll set you back if you're lucky enough to get your hands on one, Jaguar Land Rover Special Operations Managing Director John Edwards says Project 8 "is conceived for enthusiasts and the most discerning collectors. The price for such an extreme performance sports car available in strictly limited numbers will reflect that." Engine tuning is just one of the upgrades to the Project 8, but, for now, Jaguar is remaining vague about other alterations to the XE. Edwards says the car "takes aerodynamics and performance engineering to another level," and there's no reason not to take him at his word. The British automaker says it'll let us know more about the car on June 28, just two days before its official introduction. For now, though, we can enjoy the teaser video from Jaguar, above, which shows the XE SV Project 8 in a particularly sporty camouflage wrapper testing on the Nurburgring. Related Video: News Source: Jaguar Jaguar Performance Supercars Videos Sedan jaguar xe sv project 8

Comedians In Cars Getting Coffee returns June 19, celebrates with new trailer

A brand new season of Jerry Seinfeld's Comedians in Cars Getting Coffee on the way - it will involve Seinfeld and comedian Robert Klein going to Sing Sing Correctional Facility in what appears to be a Jaguar Mark II - and the trailer is out now. In addition to Klein there'll be appearances by Sarah Jessica Parker, George Wallace, Aziz Ansari and John Stewart. We don't get to see all the rides, but a Buick Riviera GS gets some airtime and the 1949 Porsche 356/2 Gmund from the segment with Jay Leno makes a cameo. The first episode airs on June 19, you can watch the trailer by scrolling down. News Source: Crackle via YouTube Celebrities Humor Buick Jaguar Porsche Classics Videos jerry seinfeld comedians in cars getting coffee cicgc jon stewart