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Mini sells 500,000th car in US

Mini has officially sold 500,000 vehicles in the United States. The achievement came just a few days after the company commemorated its 11th anniversary in America. When the automaker first opened its doors to US buyers in 2002, it sold just 24,590 unis. Last year, the automaker moved 66,123 vehicles thanks in part to an expanded lineup that now includes the Clubman, Countryman, Coupe, Roadster and Paceman in addition to the stalwart Hardtop and Convertible. The company plans to have some 130 dealerships nationwide by the end of 2013; there are currently 116 Mini dealers in the US.
Mini helped reignite an interest in small cars with plenty of personality when it debuted the Cooper 11 years ago. The move helped pave the way for machines like the Fiat 500, Ford Fiesta and Chevrolet Sonic. Check out the quick press release on the 500,000th Mini model below.

Mini JCW E PROtotype is a full-fat electric John Cooper Works

Mini has been revealing or teasing or launching variants of its all-new lineup since last September. It's not too much yet, but there's a lot of Mini going on. Here's the latest, the camouflaged Mini Cooper JCW E Prototype that will make its public debut at the Goodwood Festival of Speed for a run up the hill, introduced to us six weeks after Mini showed us a camouflaged internal-combustion Cooper JCW. And, if you'll remember, Mini showed an electric version of the new Cooper SE JCW last December. This JCW is going to rock more juice down electric avenue, though, the automaker saying there's an "advanced electric powertrain ... with cutting-edge technology" hiding under the skin. The expectation is that the JCW E will use the same 54.2-kWh battery as in other Minis, but its front-mounted motor will make more than the 215 horsepower and 253 pound-feet of torque applied to the Cooper SE and Cooper SE JCW. Brand execs told Autocar that engineers worked to maintain a "go-kart feeling," imparting similar sensations to the gas-powered JCW, the electric version's greater weight getting necessitating larger wheels and wider tires to improve grip. A stiffer suspension and larger brakes should also be involved. And although the new architecture can support a dual-motor powertrain, there seems little chance of that happening.     Same as the gas-powered Mini, the red and white camo is an homage to the red and white color schemes used in the 1960s for Minis in motorsports. The "37" logo commemorates the #37 Mini Cooper winning the 1964 Rallye Monte Carlo. Across the windshield, "Bulldog Racing" touts the team that won its class in this year's Nurburgring 24-Hour race with a new camo'ed Mini.  After the Mini JCW E's Prototype's run up the hill next weekend, the automaker says the global reveal comes in autumn this year.

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.