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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.

Nissan recalls 3,065 Pathfinders for transmission fluid leak

Nissan is recalling 3,065 units of the 2013 Pathfinder equipped with the CVT, due to a potential transmission fluid leak. On crossovers built from April 18, 2012 to October 3,2012 "inadequate clamping force" on the hose connected to the internal oil cooler can cause the hose to come loose and let fluid escape. A severe loss of fluid can cause the transmission to stop working properly.
The recall is the result of a safety investigation begun last September, when it was thought a recall could involve 110,000 units of the Pathfinder and Infiniti JX35. Asked for comment about how such a large number of vehicles potentially involved could end up with just 3,065 being recalled, Nissan rep Steve Yaeger told Autoblog that Nissan initiated a service campaign for the issue last year - a service campaign notifies owners to take their vehicles to the dealer for repair of "what is generally not a safety issue" - and that there was a "production improvement" that addressed the clamping issue. The service campaign included the vehicles being recalled, but the recall is limited to just those vehicles that were built before the production-line fix.
Nissan will begin informing affected owners next month, at which time owners can take their vehicles to dealers to have the hose clamp repaired. The press release below from the National Highway Traffic Safety Administration has more information.

The Carlos and Dieter Show promises more collaboration

Daimler and Renault-Nissan said Friday the automakers have expanded their four-year-old alliance to include putting a Renault diesel in the Mercedes C-Class, a Mercedes gasoline engine in an Infiniti and possibly will involve automated driving technologies in the near future. At a joint Paris Motor Show press conference dubbed 'The Carlos and Dieter Show' by European media, Renault-Nissan CEO Carlos Ghosn and Daimler CEO Dieter Zetsche said the alliance between the automakers is running strong and will expand into any area that makes financial sense for both companies.
Ghosn and Zetsche said the alliance between the automakers is running strong and will expand into any area that makes financial sense for both companies.
Daimler and Renault-Nissan began their partnership in 2010 with plans to collaborate on three projects. They've since expanded that and are working on 12 projects together, including building a joint plant in Aguascalientes, Mexico. Renault-Nissan and Daimler are launching their first vehicles developed together from scratch: the Renault Twingo (which went on sale in September) and the new Smart Fortwo and Smart Forfour, which go on sale in November.