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2019 Chicago Auto Show Special | Autoblog Podcast #570

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore and Associate Editor Reese Counts discuss the 2019 Chicago Auto Show, including the debuts of the Toyota RAV4 TRD, refreshed Toyota Tacoma, the Mazda Miata 30th Anniversary Edition and the new Subaru Legacy. We also announced our best-of-show winners. We also talk about a couple of SUVs we've had at the office, the new Mercedes-Benz G-Class and the BMW X5. Finally, we spend your money on a new, fun vehicle for winter. Autoblog Podcast #570 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2020 Volkswagen Jetta GLI 2019 Mazda Miata 30th Anniversary Edition 2020 Subaru Legacy 2019 Ram 1500 split tailgate 2019 Toyota RAV4 TRD Off-Road Chicago Auto Show Editor's Picks Mercedes-Benz G550 BMW X5 Feedback Email – Podcast@Autoblog.com Review the show on iTunes Podcasts Chicago Auto Show BMW Mazda Mercedes-Benz RAM Subaru Toyota Volkswagen Videos Original Video

Toyota NA CEO says his excitement for hydrogen sedan is rising

Toyota has an undeniable vested interest in seeing its hydrogen sedan succeed when it goes on sale in the US next year, so it's no surprise that the company's North American CEO, Jim Lentz, says that he's got more hope for the car now than ever before. And if we remember ways that others in the company, like Bob Carter, have loudly sung hydrogen's praises, we have to assume that positivity is running awful high in Torrance. In fact, Lentz said that the US side of the company is far more excited by the H2 car than colleagues in Japan. Speaking at The Wall Street Journal's ECO:nomics conference in Santa Barbara, CA this week, Lentz said: After we've seen the product, understand its range, its driving dynamics, its refueling, we're a lot more bullish than Japan - probably about fivefold more bullish. It's just a question of how many can be produced now. Well, we've driven this car, and we still feel that Toyota is placing a big bet on the technology. One important issue is cost, but Lentz would not say exactly how much the car costs to make or what it will be priced at. He did say, though, that the production cost has dropped by 95 percent from the $1 million price tag the car wore ten years ago. That hints at a production cost of around $50,000. Lentz also said he thinks it will take at least a decade for hydrogen vehicles to hit sales of 500,000 per year in the US. Speaking to Bloomberg, he said: Their acceptance could get off to a quicker start than the hybrids did. I think you're going to see a lot more marketing of the concept of fuel cell much sooner than you did for hybrids, because basically the whole industry is behind it.

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.