Mini Classic 1972 Nc Titled on 2040-cars

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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.

Road & Track names its 2013 Performance Car of the Year

Road & Track recently staged its first annual Performance Car of the Year test, pitting 13 new and updated performance cars against each other on track, then graduating the top six to a road test before picking a winner. Additionally, the magazine staff picked the best automobiles of the year in eight categories.
But first, let's cover the PCotY segment. Here's the list of cars brought to the comparison test: Audi R8 V10 Plus; BMW 435i; BMW M6 Competition Package; Chevrolet Corvette Stingray Z51; Ferrari F12 Berlinetta; Ford Fiesta ST; Jaguar F-Type V8 S; Jaguar XFR-S; Mercedes-Benz E63 AMG S-Model Wagon; Mercedes-Benz SLS AMG Black Series; Mini John Cooper Works GP; Nissan GT-R Track Edition; and Porsche Cayman S.
To find out the results of the comparison, head over to Road & Track's website or check the press release below, where you'll also find the magazine's top-rated vehicles in eight categories. Want more? Head over to the 2013 PCotY hub. But before you do that, take a stab at guessing the winner of PCotY (we'll give you one hint: it isn't a Porsche).

Mini recalls nearly 100,000 cars for potential electrical fire risk

Mini is recalling more than 97,000 cars to address a potential fire risk. The recall covers the 2008-2014 Mini Clubman (including Cooper, Cooper S and John Cooper Works models) and the 2007-2013 Mini Hardtop 2 Door (again encompassing Cooper, Cooper S, John Cooper Works variants). In both models, a control module beneath the driver-side A-pillar is susceptible to water intrusion under certain circumstances. If the electronics inside are exposed to water, a short circuit may occur, which Mini says could lead to a "thermal event" — engineer speak for "fire." While Mini says there are multiple circumstances under which the module can become compromised, the recall is currently limited to models sold in climates where the use of road salt is prevalent. In this environment, road salt entering the cabin via normal means (read: your boots) can accelerate corrosion if water is getting into the cabin. How might that happen? Mini says a common culprit is its own sunroof drain. Here's the full explanation, lifted directly from Mini's defect report: This safety recall involves the Footwell Control Module (FRM), an Electronic Control Unit (ECU) which controls various lighting and power window functions, and is installed near the bottom of the driverÂ’s side A-pillar behind an interior trim panel. Due to several contributing factors (environmental, certain US StatesÂ’ wintertime road treatment, vehicle design configuration and age), over time, the FRM could become susceptible to corrosion. For vehicles equipped with a sunroof, after a multi-year period involving large temperature changes, multiple freeze/thaw cycles can cause the vehicleÂ’s sunroof drain hose to become damaged, loosen and eventually detach from the drain pipe within the A-pillar, which could allow water to enter the vehicle interior. In certain US states, large amounts of road salt may be utilized during their wintertime road treatment activities. If water were to enter the interior, then in combination with road salt that may be present in the footwell, this could create an electrolyte solution. If this solution were to contact the FRM then, over time, this could lead to corrosion, possibly resulting in a short circuit. In rare cases, this could lead to a thermal event.