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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.

2017 Frankfurt Motor Show | Observations on the Ferrari Portofino, Honda Urban EV and more

Related: We obsessively covered the Frankfurt Motor Show — here's our complete coverage The 2017 Frankfurt Motor Show kicked off the fall reveal season with an impressive array of powerful cars blended with forward-looking concepts. It's a seminal period for automakers, who find themselves at the intersection of disruption and opportunity. With that in mind, here are four takeaways from Frankfurt. The transformation of the curvy yet overbaked Ferrari California T into the Portofino is complete, and its coming-out party in Frankfurt served notice that Ferrari's entry-level sports car is much more formidable. There was nothing wrong with the California (and later the California T), but the Portofino features a cleaner look with stronger lines and an elegant resemblance to the rest of the Ferrari family. The California name is a good one. Used on a number of memorable cars in the 1950s and '60s, it's steeped in tradition, and certainly Ferrari will dust it off again. But switching to Portofino, the name of a scenic town in Italy, is a nice way to change the conversation and generate fresh interest in this part of the Ferrari portfolio. Man, people are stoked over the Honda Urban EV concept. Why? I assume it's the retro look that harks back to early Civics, and the lack of information about the concept itself. What people don't know, they're imagining. Honda hasn't even confirmed the range, the car is very small, and it likely won't be sold in the United States. With this dearth of facts, enthusiasts are filling in their own blanks. I guess that's OK. Count me among the intrigued. When I saw pictures of this thing early Tuesday morning, I was pretty excited, too. We do know Honda is expanding its electric strategy, and two-thirds of its new vehicles sold around the world will have some form of electrification by 2030. The Urban EV launches in Europe in 2019, and a hybrid CR-V rolls out in Europe next year. Unconfirmed for the U.S. market, it seems like a no-brainer to bring that version of the CR-V here. The electrification and autonomous tech parade of concepts continues. You gotta be there. It's the cost of doing business in the modern automotive landscape. This technology takes years to develop and launch, so the next best thing to remind the world you're trying to be cutting-edge is to show off lots of fancy concepts. Frankfurt had plenty. A couple standouts: The BMW I Vision Dynamics and Audi's Elaine and Aicon.

2015 BMW 228i xDrive

Has BMW lost its edge? The answer to that depends on what vehicle you're discussing. The company's products, while still quick and agile, are softer and more forgiving than they've ever been. And while this change may be worrying if we're talking about an M3 or an M5, is it necessarily a bad thing for more mainstream models? That's our question after a week behind the wheel of the BMW 228i xDrive, a vehicle that succeeds the beloved, driver-focused BMW 1 Series. In some ways this new car is a let-down, but in many other areas the new 2 Series is just plain better. The latter is particularly true if we're talking about the new sheet metal. While the 1 Series was a great source of compact, rear-drive entertainment, it wasn't a pretty car. The new 2 still isn't a stunner, but it benefits from BMW's latest design language. It looks wider and more muscular than the squat 1 Series, although certain elements, like the daylight opening and rear taillights, look like they were plucked right from the old car. Overall, BMW has crafted a more premium aesthetic for the exterior of its entry-level coupe. A weak spot for the 1er, the 2 Series cabin sports a similarly upscale redo. Like the last-gen car, the top of the dash is home to a master display for the iDrive system (a neutered, non-navigation version on our test car), while the lower half of the center stack is dedicated to analog controls for the HVAC and audio. The dash layout is similar to the 1 Series, but the execution feels more upscale. The trim around the radio and climate controls includes aluminum and gloss accents. The passenger side dash and center console ditch soft-touch plastic for authentic materials – our car uses real brushed aluminum, although piano black and wood are also available. As with all recent BMWs, the combination of the automatic gear lever, the knob and buttons of the iDrive system, and the toggle switch for the Driving Dynamics Control system mean there's a lot of clutter where the driver's right hand falls. What hasn't changed with the 2 Series is the excellent relationship between the driver and the primary controls. Our test car wears the Sport Line package, which does without BMW's obnoxious, too-large-diameter M Sport steering wheel. Instead, there's a thick-rimmed wheel with textured leather and red contrast stitching. It feels more natural than the oversized M wheel, while this car's large paddle shifters have a solid, well-damped action.