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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.

Junkyard Gem: 1997 Jaguar XK8 Convertible

Jaguar sold the mighty XJS grand tourer from the 1976 through 1996 model years, and I've documented quite a few of them in their final parking spaces. For 1997, the replacement for that legendary car finally arrived, in the form of the oft-delayed XK8. Here's one of those first-year cars, found in a self-service yard in Denver, Colorado recently. Development of this car's platform and general shape goes back to 1980, when endless prototypes were built and forgotten. Once Ford took over Jaguar in 1990, the abaondoned XJ41 project was revived and became the 1994 Aston Martin DB7. Fast-forward three years and you get a Jaguar-badged cousin of that car. The 1997 XK8 could be purchased in coupe or convertible form. The top on this car has seen better days. How much, you ask? A cool $69,900, which would be around $130,165 in 2022 dollars. If you wanted the Aston Martin DB7 Volante convertible that year, the price tag was $135,000 ($251,395 now). As we've seen in this series, sophisticated European machinery requires fastidious maintenance on the dot, or you get hit with repair bills larger than the car's value once it hits age 10 or so. Once a car like this reaches its fourth or fifth owner, the Clock of Doom starts ticking very loudly if it was ever neglected prior to that. It appears that preparation for body and paint work took place but was never completed. The engine is a 4.0-liter Jaguar DOHC V8 rated at 290 horsepower, same as the one in the XJ8. In 1998, a 370-horse supercharged version known as the XKR became available. The Lincoln LS and 2002-2005 Ford Thunderbird got a de-bored 3.9-liter version of this engine. The transmission in 1997 was a mandatory five-speed ZF automatic, regardless of which side of the Atlantic you lived on. In fact, every street XK8 ever built had an automatic when it left the assembly line (though I'm sure some three-pedal swaps have been performed by now). These cars aren't exactly common in your local Ewe Pullet, but they are out there.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. As some 24 Hours of Lemons racers in Texas discovered, you can buy a DB7 shell cheap at auction and then bolt in everything you need to make it a runner by stripping an even cheaper XK8 donor car.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. A new breed of Jaguar. This content is hosted by a third party.

Dick Van Dyke escapes his flaming Jaguar on the 101

Actor Dick Van Dyke was caught in a dangerous situation on a Los Angeles highway (who are we kidding, every situation on an LA highway is dangerous), when his Jaguar XJ spontaneously caught fire. The 87-year-old actor/comedian pulled to the side and attempted to call emergency services when another motorist pulled him from the car. There seems to be some confusion as to whether Van Dyke was passed out or merely calling emergency services.
According to the photos and video from NBC and The Today Show, the car was thoroughly cooked in the blaze and is now a total loss. After the incident, Van Dyke's wife, Arlene, posted that the actor was "fine," sharing a Vine video of the star, the car, and a few CHP troopers that were on hand. Later in the day, Van Dyke tweeted a photo of his toasted sedan, saying, "Used Jag for sale REAL CHEAP!!"
You can view the Today show segment on the incident as well as Arlene Van Dyke's Vine video, below.