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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.

BMW recaps the glory days of M3 performance

Next in the BMW series chronicling the M3 come the second-generation E36 and third-generation E46 models. The E36 ran from 1992 to 2000, upping the game over its predecessor with a 3.0-liter inline-six that started out with 286 horsepower in Europe, or 240 hp when it came to the US in 1994. By the time it ended its run in 1999, it had vastly expanded the lineup and ushered in some key BMW firsts. Going beyond the coupe-only E30, the E36 added sedan and convertible bodystyles, and gave us BMW's Vanos variable cam timing system and the six-speed SMG sequential gearbox. The E46 that launched in 2000 would pare down the bodystyles to coupe and convertible yet go further with design and technical changes. The 3.2-liter inline-six shared only three minor components with the previous motor and put out 333 horsepower at 7,900 rpm. It introduced the power dome, fender vent, and inset exhaust tips as design trademarks. The special editions included the Euro-only M3 CSL, and the second-generation homologation special M3 GTR with a 493-hp, 4.0-liter V8, of which just ten were made. Having made the complete transition from racer for the street to comfortable, perfectly balanced sports car, BMW sold even more of the E46 with just two bodystyles than the E36 with three. Check out the video on the E36 above, then enjoy the look back at the E46 below. If you want to catch up on the latest BMW M3 and its M4 siblings, take a look at the video at the very bottom. Related Video:

Editors’ Picks April 2023 | New X1, a Bentley and some luxury EVs

This month of Editors' Picks features a smattering of luxury vehicles in both sedan and SUV body styles. The new BMW i7 was a big surprise, and the Mercedes-Benz EQE is a lovely enough electric sedan to get our recommendation, too. We've given every other Bentley model an Editors' Pick before, and the Bentayga follows suit. Lastly, BMW nabs a second in April with the newly redesigned X1 subcompact crossover. In case you missed our previous Editors' Picks posts, here’s a quick refresher on whatÂ’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary in their respective segments get an EditorsÂ’ Pick designation. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. The list that youÂ’ll find below consists of every car we rated in January that earned an EditorsÂ’ Pick.   2023 Mercedes-Benz EQE 2023 Mercedes-AMG EQE View 38 Photos Quick take: The EQE offers all the niceties of a traditional E-Class in an electric form. Its design is simplistic and bland to a fault, but everything else about it is executed well. Score: 7.5 What it competes with: Porsche Taycan, Audi E-Tron GT, Tesla Model S, BMW i4 Pros: Gorgeous interior, big backseat, advanced tech, excellent driving AMG variant Cons: Bland design, average range/charging speed, questionable value From the editors: Road Test Editor Zac Palmer — "I drove the AMG version of the EQE, and while it's a rocketship of an EV, it lacked the ne'er-do-well nature of the gasoline-powered AMG versions of the E-Class. The interior is beautiful, but I can't say the same for the exterior, even with the AMG add-ons. The AMG EQE is a perfect Benz, but I wouldn't go so far as to call it the perfect AMG product." In-depth analysis: 2023 Mercedes-Benz EQE Sedan Review: A smaller, less expensive EQS   2023 BMW X1 2023 BMW X1 xDrive28i 03 View 31 Photos Quick take: The BMW X1 is the driver's choice in the subcompact luxury SUV segment. Its size and abundance of tech makes it a great all-rounder for anybody's taste, though. Score: 8.0 What it competes with: Volvo XC40, Audi Q3, Mercedes-Benz GLB, Mercedes-Benz GLA, Jaguar E-Pace, Lexus UX, Land Rover Discovery Sport, Pros: Fun to drive, great utility, traditional and handsome design Cons: Interior feels spartan, value is questionable From the editors: Senior Editor, Green John Beltz Snyder — "This segment is a competitive one, but the X1 sets itself apart as the driverÂ’s car.