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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.

Watch the next BMW M5 slide its way around the Nurburgring

By now, you've probably seen the spy photos of the next BMW M5 – we posted three sets of camouflaged cars last year. Now comes recently captured video showing three camouflaged examples – including the car shown in our June 2015 photos – lapping Germany's famed Nurburgring. The (obvious) advantage of video when looking at prototypes like this is that we can actually see the vehicle in motion. That allows us to make a couple of educated guesses, particularly when it comes to the rumors about the next M5 moving to an all-wheel-drive setup. In the video, we can clearly see the next super-sedan throw its tail out around a bend. Judging by the way the driver takes the turn and the change in engine note, it looks and sounds like the driver was actively trying to throw the tail out. That could point to a rear-drive layout, or at the very least an AWD setup with a heavy rear-wheel bias. Beyond seeing the M5 sliding about, we also get to hear its thumping, twin-turbo heart at work. It's widely expected BMW's popular 4.4-liter, twin-turbo V8 will carry on under the hood, and this video gives us absolutely zero reason to think otherwise. It sounds a lot like the current car, down to the abrupt upshifts of the seven-speed, dual-clutch transmission. According to the video's caption, that upgraded V8 should get around a 60-horsepower bump, which would put it around 620 hp. That's 20 ponies more than the 30th Anniversary car and would contradict a June 2015 report claiming that M was capping its cars at 600 hp. Related Video:

BMW offering glitch fix for i3 with range extender

The BMW i3 has received quite a bit of acclaim since its release, with the electric powertrain grabbing a spot on Ward's 10 Best Engines list and the high-tech machine earning the nod as 2015 Green Car of the Year. However, Consumer Reports uncovered a vexing problem with the range-extended version of the hatchback that has plagued it until a recent software update. While CR was driving the range-extended i3 last year, it discovered that when the internal combustion engine was running during low states of charge, hard acceleration could suddenly cut back with no warning to the driver. This was especially problematic when passing. BMW knew about the issue and promised a software update in the spring. That improvement is now available. BMW spokesperson David Buchko tells Autoblog that the software update adds a percent-of-charge indicator to all models of the i3 to let drivers know just how much juice is left. For the range-extended model, it also provides a warning of possible power reduction when the charge reaches two percent. According to Consumer Reports, the revision lets the car anticipate needing more reserve power based on the topography from the navigation system, as well. For any i3 drivers who want the upgrade, they need to visit a dealer for installation, according to Buchko, but it should be come at no cost to owners. Related Video: