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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.

Toyota C-HR hybrid crossover coupe concept leak ahead of Paris

Last week, Toyota previewed an upcoming concept called the C-HR and promised it would debut at the upcoming Paris Motor Show. It didn't say much more or give us anything beyond a silhouette and the shape of the lights, but here we have the first images of the finalized form.
The C-HR envisions a hybrid crossover coupe with angular styling that looks ready to take on the Nissan Juke. It's far sportier than a RAV4, and looks closer to how we'd imagine the next-generation Scion FR-S would look like if it were riding on a jacked-up suspension - with some show car elements thrown in for good measure, like a gloating roof, radical lighting and the usual absence of door handles and usable wing mirrors.
Of course, this being a Toyota concept, it packs a hybrid powertrain, although specifications did not leak out along with the images. Overall the form looks pretty striking, if decidedly unsubtle. We'll look forward to bringing you more as the Paris show rapidly approaches.

Daimler, Toyota, BMW to lead $10-billion hydrogen investment

Daimler, BMW, and Toyota are leading a group of 13 companies pledging to invest more than $10 billion during the next five years to spur enough infrastructure-building and technology advancements to get more of the general public to buy hydrogen fuel-cell vehicles. The automakers, which also include Honda and Hyundai, as well as companies such as Shell, AirLiquide, Linde Group, and Total SA, are part of what they're calling the Hydrogen Council. The group made its announcement in Davos, Switzerland, on Tuesday. The Hydrogen Council will pledge to accelerate its rate of hydrogen-related investments, which currently stand at about $1.5 billion annually. The coalition says its work represents a continuation of the 2015 Paris Agreement, in which many of the companies agreed to address the issue of climate change. The group says that hydrogen, which emits water vapor when used in fuel-cell vehicles, "can play an important role in the transition to a clean, low-carbon, energy system." The Hydrogen Council also vowed to push global governments to accelerate public investment in hydrogen-related infrastructure. Relative to other drivetrain technologies, hydrogen fuel-cell vehicles are in their relative infancy in terms of adoption because of the high cost of both building fuel cell vehicles and setting up a hydrogen-refueling infrastructure. Toyota is the only automaker that sells a production fuel-cell vehicle in the US. The Japanese company, which introduced its Mirai domestically in late 2015, sold 1,034 of them in the US last year. Daimler subsidiary, Mercedes-Benz, used Tuesday's announcement to remind people that it would start selling its GLC plug-in hydrogen fuel-cell crossover this year. There are only 33 publicly accessible hydrogen refueling stations in the US, including 30 in California, and one each in Connecticut, Massachusetts, and South Carolina, according to the US Department of Energy. By comparison, there are more than 15,000 electric-vehicle charging stations with almost 40,000 outlets in the US. Related Video: Featured Gallery 2017 Mercedes-AMG GLC43 News Source: Daimler/Hydrogen Council via Bloomberg, Automotive News-sub.req. Green BMW Honda Hyundai Mercedes-Benz Toyota Hydrogen Cars infrastructure mercedes f-cell