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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.

V12-powered Jaguar E-Type Series 3 the restomod treatment from UK firm

As Jaguar tries to figure out its future, a growing number of aftermarket companies are reinventing its past. British restoration shop E-Type UK is the latest company to announce a restomod program for the popular sports car released in 1961. It's working with later Series 3 models, which is a little unusual, and it leaves no part untouched. E-Type UK starts every Unleashed project with a donor car; it doesn't build an E-Type from scratch. After strengthening the basic platform, it bores out the V12's cylinders to increase its displacement to 6.1 liters, 800 cubic centimeters more than stock. Additional modifications, like an electronic fuel-injection system and a free-flowing exhaust system, boost the engine's output to 400 horsepower, and a five-speed manual transmission sends the cavalry to the rear wheels. Four-piston front brake calipers ensure the Unleashed stops as well as it goes. With the engine finished and tuned, E-Type UK turns its attention to the chassis. It fits the E-Type with technology the original model could only dream of, like fully adjustable shock absorbers. Wire wheels are standard equipment, they fit the car's sleek profile well, but their diameter increases slightly to 16 inches to clear the bigger brakes. Designers restyled the bumpers, the grille, and the exterior emblems, though the changes are relatively subtle, and they added LED headlights to give the E-Type the visibility of a modern car. Inside, the only limit is the thickness of the buyer's wallet. Anything is possible; the options include different types of leather upholstery and various trim options. Heated seats, LED lighting, a push-button ignition, Bluetooth connectivity, and a surround-sound system are among the equipment added by E-Type UK to encourage future owners to drive their Unleashed often. All told, each build requires at least 4,000 hours of labor, which partially explains why pricing starts at GBP325,000 (around $447,600 at the current conversion rate) before the cost of a donor car enters the equation. For context, that money could buy you two examples of the Lamborghini Huracan Evo and a garage to keep them in, a small plane, or 447 examples of your favorite $1,000 econobox. And yet, we doubt E-Type UK will have a difficult time finding clients. Restomods are a big trend in the industry, some are even Volvo-based, and they're never cheap. Related video: This content is hosted by a third party. To view it, please update your privacy preferences.

Jaguar Land Rover creates new Special Operations division for halo vehicles, bespoke commissions

Jaguar Land Rover has announced that a new division of the British manufacturer will be dedicated to "bespoke commissions," as well as heritage products and apparel. Oh, and the new Special Operations division will also be behind JLR's halo cars from now on.
It's that last one that is the most tantalizing, as the last real halo product to see production from Jaguar was the XJ220. The Range Rover, meanwhile, has always had its own kind of halo reputation, although the Land Rover brand itself has never really gotten into the game with a dedicated model.
According to JLR, the new halo models will focus on ultra-high performance and luxury with a limited run of vehicles. The bespoke models, meanwhile, will give the wealthiest customers full sway over how vehicles are outfitted, with unique paints, trims and other accessories. The new SpecOps division will be run by John Edwards.