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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.

Lotus to produce new crossover in China

Lotus and its parent company recently signed a joint-venture agreement with Chinese automaker Goldstar to build vehicles in China for local consumption, and according to the latest report from Autocar, it'll all come down to a new sport-ute. That's because the market for C-segment compact crossovers in China is huge. So big that it's impossible for Lotus to ignore. Porsche is reportedly selling 30,000 Macans in China alone each year, and is expected to reach 50,000 per annum there in the near future. "Six million SUVs will be sold in China this year, and more than half of those are C-segment models," Lotus chief Jean-Marc Gales told Autocar. "That figure is forecast to rise to eight million in four years. C-segment SUV sales alone will be bigger than the entire German market." Little wonder, then, that Lotus and Proton are keen to dive in. Technical details for the new Lotus crossover are still being worked out, but we'll likely be looking at a steel monocoque chassis clad in composite and aluminum body panels, riding lower than a Macan and weighing a good 400-500 pounds less. Power will likely come (at least initially) from the same 1.8-liter four and 3.5-liter V6 that power Lotus' sports cars, but driving all four wheels. A hybrid system could follow, and the finished product is likely to adopt a nameplate starting with the letter E – in the grand tradition of the Elise, Exige, Evora, Esprit, Europa, Elan, et al. According to Gales, "Our car will drive beautifully. It will be supple and comfortable but the emphasis will be on handling. It will be the lightest and fastest of its class on the track." This would be the first crossover Lotus would design, engineer and actually bring to market, but not, strictly speaking, the first time it has toyed with the idea. There was the APX concept (pictured here) it showcased in 2006 and the T5 that Proton essentially licensed Chinese automaker Youngman to build with Lotus' name on it. But the former was never put into production and the latter wasn't a proper Lotus. The design is currently being worked out before a prototype can be put together so that the joint venture can get the manufacturing license it needs from the Chinese government. So we're likely looking at another year or two before we see something solid. "Let's get the design right, then make a prototype," said Gales. "Let's make it beautiful and very light.

Lotus reveals Exige 360 Cup, limited to 50 cars

After over a decade on the market, Lotus keeps finding ways to sharpen the already razor-like Exige, and for the new 360 Cup the company incorporates even more improvements for the venerable sportscar. Chief among the upgrades is freer flowing induction and an improved exhaust to take the supercharged 3.5-liter V6 to 355 horsepower, a 10-hp improvement over the standard V6 Cup. In a vehicle weighing just 2,491 pounds, that should be plenty, and the Brits promise the engine sounds better too. On the outside, these Exiges, which are limited to 50 copies, wear new lightweight pieces for the front access panel and louvered rear tailgate. The rest of the body uses the V6 Cup's aero package that produces 93 pounds of downforce at 100 miles per hour. Improved brake discs are hidden behind Motorsport Red wheels, and each car comes with a numbered build plate. They're eligible to race in the Lotus Cup series, and for those really wanting to hit the track, the options include adjustable anti-roll bars, Ohlins dampers, a fire extinguisher, electrical cut-off, FIA carbon seats, air conditioning, and a removable steering wheel. Lotus is returning to the US market with the Evora 400 in December and plans to bring back the Elise in 2020. You need to be in Europe to get one of these Exiges, though. Prices in the UK start at 62,995 pounds ($98,558), including a 20 percent tax. THE LOTUS EXIGE 360 CUP 14/08/15 Limited edition - 1 of 50 - Exige V6 Cup Increase in power of 10 PS New lightweight louvered tailgate and front access panel Lotus Motorsport redefines the Exige V6 Cup with the introduction of the Exige 360 Cup. New lightweight panels and an increase in power mean the Lotus Motorsport Cup model continues to provide a benchmark in handling and performance. The Exige 360 Cup bespoke styling signals an evolution in design, with an option of four colours (Metallic White, Metallic Grey, Metallic Black and Metallic Silver) and stealth matt black roof, front access panel and louvered tailgate. This design is a limited edition run of 50 vehicles and each of these special Exige 360 Cup cars will receive a numbered Lotus Motorsport build plate. This new model boasts an increase in power of 10 PS with freer flowing induction and a sports exhaust system, which combined with a low vehicle weight of 1130 kg gives an incredibly pure driving experience on road and track. The powertrain updates also give the Exige 360 Cup a sportier soundtrack to enhance the driving experience.