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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.

Daimler chairman agrees with German Greens on reducing emissions

Daimler Chairman Dieter Zetsche spoke at a Green Party congress in Germany earlier this week and said he agreed with the party's urge to dramatically cut transportation-based greenhouse-gas emissions by expanding plug-in vehicle sales, Reuters says. Zetsche stopped short of backing the Greens' suggestion to ban gas- and diesel-powered vehicles by 2030, though. The man must keep his job, after all. Zetsche did say that reducing greenhouse-gas emissions from the transportation sector was "necessary," and his company has made plans to do just that. Daimler representatives said at the Paris Motor Show earlier this year that Smart and Mercedes-Benz both planned to debut more than 10 electric vehicles within the next decade, and that plug-ins may account for as much as 25 percent of Mercedes-Benz's sales by then. Moreover, Dr. Thomas Weber, Head of Group Research and Mercedes-Benz Cars Development, said in June that Mercedes could be selling as many as 100,000 EVs a year by the end of the decade. Last month, Mercedes-Benz announced that its EQ electric-SUV concept would go on sale by 2020, and that the Bremen factory that's producing the model will broaden its plug-in vehicle production further. Zetsche's cautious support notwithstanding, the German government appears to be doing its own part to reduce emissions from the country's light-duty vehicles. Earlier this year, Germany enacted a plan that provides as much as 4,000 euros ($4,270) in perks for people who buy new electric vehicles, with German automakers agreeing to foot about half of the estimated $1.4 billion bill. German lawmakers had also floated the idea of a 10-year moratorium on electric-vehicle taxes for cars purchased before 2020. Related Video: News Source: Reuters via Automotive News Europe-sub.req.Image Credit: Ralph Orlowski / Reuters Government/Legal Green Mercedes-Benz smart Electric

Mercedes-AMG GT3 thunders into Geneva debut [w/video]

Mercedes-Benz took the opportunity to debut its replacement for the SLS AMG GT3 at the 2015 Geneva Motor Show today, showing off the new AMG GT3. Unlike the road car on which it's based, Mercedes ditched the turbocharged V8 for its awesome 6.3-liter V8, which also powered the GT3's predecessor. That's far from the only change found for the racing variant of the new model, however. Mercedes conducted a serious overhaul of the car's aerodynamics, fitting a huge rear wing and an equally enormous front splitter. The front bumper is also home to a quartet of winglets, which add even more downforce to the front end. As we suspected in our original post on the GT3, the rear of the car has been fitted with a none-too-subtle rear diffuser. The cooling needs of the track have also been enhanced, courtesy of large ducts on the fenders and a deep vent in the hood, while meaty slats sit over the front wheel wells. In addition to the rear diffuser, large ducts have been fitted to both sides of the rear bumper. The AMG GT3 looks like a compelling offer in the world of customer racers, although we won't know that for certain until it hits the track for some competition. That should be later this year at the earliest, as Mercedes is targeting late 2015 for the first customer deliveries. Check out our live gallery of images of the new AMG GT3, direct from the floor of the 2015 Geneva Motor Show. World premiere in Geneva for spectacular AMG racing car All-out attack : the new Mercedes-AMG GT3 Affalterbach. Mercedes-AMG will ring in the 2015 motorsport season at the beginning of March with the sonorous sound of the V8 engine: the new Mercedes-AMG GT3, with which the Mercedes-Benz sports car and high-performance brand is systematically expanding its motorsports presence, will be making its debut appearance at the Geneva Motor Show. Developed to comply with the FIA's GT3 race rules, the racing car will compete in the world's most hotly contested customer race series. Cutting-edge racing technology and spectacular design predestine the new challenger for victories. The new GT3 is based on the Mercedes-AMG GT, which is being launched in just a few days' time. Following an intensive test phase, the new AMG racing car will be shipped to the first customer teams at the end of 2015. The Mercedes-AMG GT3 will blaze new trails in customer sports with its intelligent vehicle concept.