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Average Bugatti owner has 84 cars, 3 jets, 1 yacht

Between Audi, Porsche, Lamborghini, Bentley and Bugatti, the Volkswagen Group has no lack of prestige marques under its umbrella. And while some of these marques may produce models that compete against each other, each seems to be profitable enough in its own right to justify its existence. But what about Bentley and Bugatti? Surely these marques cater to the same customers, right?
Not according to their shared CEO. "The clientele between Bentley and Bugatti is remarkably different," said Wolfgang Dürheimer in an interview with Bloomberg. "The Bentley customer on average owns 8 cars. The average Bugatti customer has about 84 cars, 3 jets and 1 yacht."
That may be a slight exaggeration (we'd have expected three yachts and one jet), but it puts things into perspective: Bentleys are for the one percent. Bugattis are for the one percent of that one percent. Which only goes to show why it's taken Bugatti over eight years to sell 450 Veyrons - a number of units it would take Bentley about two weeks to move, albeit at about one tenth the price.

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.

2021 Bentley Bentayga Hybrid revealed with tech improvements, same powertrain

The 2021 Bentley Bentayga Hybrid is here, and it’s treated to the same round of updates as the rest of the refreshed Bentayga lineup. That means it gets the new exterior design, a thoroughly revised interior and plenty of new tech. Nothing on the powertrain side has changed for the plug-in hybrid Bentley. ItÂ’ll continue to make do with a 3.0-liter twin-turbo V6 aided by an electric motor. Output remains the same at 443 horsepower and 516 pound-feet of torque combined. EPA range is not yet available, but given the 31-mile NEDC-tested range hasnÂ’t changed, we donÂ’t expect the 18-mile EPA-rated electric range to budge either. The biggest upgrade draw inside is the new 10.9-inch infotainment system. ItÂ’s the latest and best Bentley has to offer, and it features wireless Apple CarPlay and wired Android Auto. A wireless phone charger, new USB-C ports and a larger rear seat touchscreen remote tablet round out the best of the interior changes. ThereÂ’s more space for passengers in the rear. And Bentley upped its luxury game with a redesigned dash, instrument cluster (digital), door trims and steering wheel. The seats are re-done for even more comfort, too. Bentley hasnÂ’t detailed any fine tuning changes it may have made to the way the Bentayga Hybrid drives, but given our disappointing first drive a couple of years ago, we hope there are some unsung, under the hood improvements. The telltale sign that itÂ’s the PHEV is via the tiny “Hybrid” script on the lower door trim. Bentley says the updated Hybrid is available to order now, but we donÂ’t yet have a full breakdown of pricing. Expect it to maintain its status as the cheapest Bentley in the brandÂ’s lineup. Related video: