2010 Vw Cc 2.0t Carfax Certified 1-owner W/service Records Leather Low Reserve 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.

2015 Volkswagen GTI: Clicking, beeping, and trying to stay cool [w/video]

My first car didn't have air conditioning. Well, that's not entirely true. The car had A/C, it just didn't work. Nevertheless, I survived summer after summer of sweating behind the wheel – par for the course in a 15-year-old Mitsubishi with 235,000 miles on the odometer. But it's another thing entirely when that same experience happens in a 2015 Volkswagen GTI after just 7,000 miles of use. That's how Autoblog kicked off summer with the long-term GTI: sweating in plaid seats. The car went to Suburban Volkswagen in Troy, MI, where the technicians told me the air-con just needed a recharge (despite asking them to inspect it further). They recharged it, the air blew cold, and 48 hours later, the A/C stopped working again. (Surprise!) The problem was a leak in the compressor/condenser line, so a new one was installed, the system was charged, and now it's fixed. For real this time. Unfortunately, that second-coming happened during a road trip with editor-in-chief Mike Austin at the helm. His logbook comments are, as you'd expect, appropriately salty. "Everybody loves the GTI, right? Not quite. I drove to Toronto for a weekend. On the way home, the A/C quit working. This wasn't too much of a problem until we hit the border control line to re-enter the United States. I always pick the slow line, somehow. Thusly baked in the heat, with outside temperatures above 80, the GTI didn't cool back down for the rest of the trip. Then I learned we already fixed the A/C once." "Of course, any car on that day with a surprise A/C failure would earn my ire," Austin notes. "It just seems a little more irritating on a new car. Otherwise, yeah, this is a great car." A great car, indeed. Everyone loves spending time with the GTI. It's got plenty of power, it's quiet, it's comfortable, and it eats up highway miles. We've got just over 10,000 miles on the odometer as of this writing, and as summer carries on, many editors have requested extended periods of seat time in the GTI for weekend getaways and longer road trips. But it's still not perfect. Following the A/C fiasco, there's another, more curious problem plaguing the GTI. Every time the car starts, a weird, varied-tempo, loud clicking is heard from the dash. We think it's coming from the direction of the glovebox, and it's not the same click patten every time. Sometimes it's one or two knocks, sometimes it's several. See what I mean in the video below. Weird, right? Another trip to Suburban Volkswagen offered no help.

Auto execs surveyed say VW, BMW most likely to grow

A new survey of top global automotive executives indicates both Volkswagen and BMW are the most likely to grow their market share over the next five years.
Tax advisory firm KPMG LLP has released its 14th annual Global Automotive Executive Survey, which includes responses from over 200 executives. A total of 81 percent of respondents said they expect to see Volkswagen make gains, compared to 70 percent last year. BMW, meanwhile, saw 70 percent of those surveyed say they believe the company will increase its market share. That's a jump of 7 percentage points over last year. This is the first time in the history of the survey that BMW has claimed the second-place spot.
Meanwhile, Hyundai has seen its perceived market share potential slacken for the third year in a row. Around 61 percent of those surveyed predicted gains for Hyundai, down from 63 in 2012. Toyota also has a surprising year, but for just the opposite reason. While the manufacturer had slipped in ranking since 2011, it enjoyed the largest increase of any company in the 2013 survey, jumping to 68 percent from 44 percent last year.