2017 Rolls-royce Dawn on 2040-cars

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BMW sold 2.49 million BMW, Mini and Rolls-Royce vehicles in 2018

FRANKFURT — German carmaker BMW on Tuesday said it achieved record sales of 2.49 million BMW, Mini and Rolls-Royce vehicles last year. "BMW Group achieved record sales in 2018. 2.49 million vehicles mean the BMW Group is the world's leading premium automotive company for the 15th year running," Chief Executive Harald Krueger said. In 2017, BMW Group sold 2.46 million vehicles. Daimler has not yet released annual sales figures for Mercedes-Benz passenger cars, so it remains unclear whether BMW brand overtook Mercedes-Benz in terms of sales in 2018. Sales of BMW, Mini and Rolls-Royce cars were higher than Mercedes-Benz in 2017.

Time to catch up with Jay Leno's Garage, including his Lamborghini Espada restoration

If you're already jealous of the time, effort and money that Jay Leno can devote to his massive car collection, prepare to get a little greener with envy with this latest video from Jay Leno's Garage. Instead of the usual format of discussing a model for about ten minutes and then taking it out for a test drive, this week Leno gives viewers on a tour of over a dozen projects concurrently happening in his stable. The breadth of the vehicles shown and the things being done to them run the entire span of the automotive hobby. At the same time, Jay's shop is working on just a simple restoration of his 1969 Lamborghini Espada (pictured), and at the other side of the building, the team is rebuilding a wood-bodied 1914 Detroit Electric from scratch. He eventually plans to slot a more modern electric drivetrain into it. If bikes are more your interest, there's a freshly completed Brough Superior just waiting for a ride, and if American models are your thing, a Ford Bronco is getting a Coyote V8 installed into it. You have some very specific tastes if you can't watch this clip and start wishing at least one of these vehicles could be in your own garage. Other than the personal projects his mechanics are working on in the shop, Jay gets to have them all, plus plenty more.

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.