1929 Rolls-royce Phantom 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.

Dubai man shells out $9 million for license plate

An Indian businessman lived up to Dubai's wild reputation last week when he dropped a cool $9 million on a single-digit license plate for his Rolls-Royce. According to the Independent, Balwinder Sahani, an Indian-born property developer living in Dubai, won plate number D5 at a government auction on Saturday, October 29. This isn't the first time Sahani has scored a coveted low-number plate at auction, either. The self-proclaimed 'simple man' spent nearly $7 million dollars on plate O9 at an auction last year for his other Rolls-Royce, and picked up a second, unnamed plate at Saturday's auction for a piddling $272 thousand. Sahani considers the money he spends collecting license plates a form of charity and public service. Dubai has no income tax, and the money spent chasing elite license plates goes directly to Dubai's Roads and Transport Authority. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. "I believe in giving back," Sahani told the Independent. "This city has given me a lot." Single digit license plates are highly sought after as status symbols by the rich and powerful in the UAE, and the lower the number the higher the price. Back in 2008, a businessman named Saeed Al Khouri in Abu Dhabi set a record by paying $14 million for plate number 1. These displays of conspicuous consumption are de rigeur in the Emirates. Earlier this year, a set of gold and diamond encrusted tires certified as " The Most Expensive Tires in the World" by Guinness sold in Dubai for around $600,000 dollars. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: The Independent, FortuneImage Credit: AP Auto News Weird Car News Rolls-Royce license plate dubai

Rolls-Royce Wraith and Dawn order books closed globally

Rolls-Royce closed order books for the Wraith coupe and Dawn convertible at the end of last year in the U.S. Brand chief Torsten Muller-Otvos told Autocar that both have since been removed from every market. Final orders are still being produced at the Goodwood factory, so the last Wraith and Dawn won't likely leave the line until early next year. But with the taps turned off and nothing to replace them yet, Rolls-Royce will soon be two-thirds of the way done with what has been a very successful chapter in its history. Those two offerings, as well as the Ghost sedan, are based on the architecture BMW created for the 2008 7 Series. Now only the Ghost remains of the trio, at this point planned for production until 2030 when Rolls-Royce will convert being to an electric-only automaker. More modern products like the Phantom II sedan and the Cullinan crossover ride on the company's Architecture of Luxury. That structure will also support the Spectre battery-electric coupe meant to go on sale at the end of 2023. Spectre spy shots reveal a body that looks much like the Wraith; however, Autocar says, "Rolls instead views the Spectre as a belated successor to the coupe version of the seventh-generation Rolls-Royce Phantom, with the pair sharing a similar footprint and the Spectre therefore having its own distinct positioning within the Rolls range." The erstwhile Phantom Coupe's length and wheelbase were about 20 inches longer than those of a Wraith. The Phantom II sedan is but a couple of inches longer than the previous two-door. Point being, the Spectre might be silent, but it won't be small. There will still be some BMW in it, however, like Rolls-Royce's version of the stacked headlights BMW is about to debut on the i7 and X7, and there's speculation the top-dog BMW iX M60i powertrain will cross the Channel to enter Goodwood's service. Peak output for the BMW reaches 610 horsepower and 811 pound-feet of torque, which sound like fine numbers for wafting.