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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.

BMW electrifies the 2 Series Active Tourer with a plug-in prototype

BMW is developing a hybrid version of its 2 Series Active Tourer. At the company's Innovation Days 2015, we're finally getting to see the fruits of that electric labor with a prototype for a plug-in hybrid version of the front-wheel-drive hatchback. The Bavarians aren't keeping a secret that they intend to build a model like this in the future. But like the rest of the Active Tourer family, it's likely to remain unavailable to US buyers. BMW is already somewhat familiar with the realm of plug-ins with its i sub-brand and forthcoming X5 xDrive40e PHEV. This 2 Series Active Tourer is largely an adaptation of some of that tech. Up front, there's the company's transversely mounted, 1.5-liter turbocharged three-cylinder gasoline engine making 134 horsepower and 162 pound-feet of torque, and it's linked to a six-speed automatic gearbox. A generator on the front axle can also briefly boost output by 20 hp and 111 lb-ft, or help charge the rear-mounted battery. At the back is an electric motor making 87 hp and 122 lb-ft with a two-speed transmission spinning the rear axle. All of this is linked together via the Dynamic Stability Control to shuffle around power as necessary. The hybrid system generally prioritizes using electric power at speeds below 50 miles per hour and kicks on the engine from there. Depending on the settings, drivers can also force it into EV mode with a maximum range predicted at nearly 24 miles. BMW claims the 2 Series Active Tourer PHEV could get to 62 mph in a brisk 6.4 seconds, and the company estimates the setup can return the equivalent of 118 miles per gallon on the European cycle. While there's a lot of equipment to package together in this system, BMW claims that interior room is identical to the purely internal combustion version. The hybrid battery is under the rear seat, and propulsion for the back wheels is centered around the axle. As a prototype, the automaker isn't really talking pricing yet beyond stating buyers "do not have to pay a high premium for the technology." 2. BMW eDrive in the pipeline for further BMW models: The BMW 2 Series Active Tourer plug-in hybrid prototype. The advent of plug-in hybrid variants in various model series from the BMW brand is making all-electric driving with zero local emissions in a premium car a possibility for an ever-increasing number of target groups.

First BMW i8 in US sells for $825,000

Here are some numbers. The standard BMW i8 starts at starts at $135,700. The first i8 in the US was auctioned off at the Pebble Beach Concours d'Elegance this past weekend and the auctioneers, Gooding & Company, said before the gavel was lifted the fist time that they expected the i8 with unique Frozen Grey Metallic and other upgrades to raise between $150,000 and $200,000 for the Pebble Beach Company Foundation. Turns out, the car eventually sold for $825,000 to an unnamed buyer. Along with the honor of having the first i8 on these shores, the special plug-in hybrid comes with Dalbergia Brown leather upholstery, a set of Louis Vuitton luggage and something called a "professional edition" charging station along with laser headlights (subject to regulator approval). A number of other i8s were delivered to a few wealthy car shoppers who managed to make their way to Pebble Beach over the weekend, including automotive guru Roger Penske and Nest CEO Tony Fadell. The special edition was presented at the auction by Jay Leno and BMW North America president and CEO, Ludwig Willisch. You can't put a price on that. Just kidding. You can, and it's apparently $825,000.