I do not believe in punishment abstracted from the actual cause. In this case, losing smart phone and TV rights does nothing. Even not knowing your daughter, there is a good chance that she will just feel bitter about the punishment without relating it to the issue at hand. These punishments overshadow the fact of what she actually did - everything will be about the phone and the TV, not the car.

1. Have a long and tough talk with her. Make sure that she knows you love her, but also make sure that you can be as certain as humanly possible that she got the message. You are looking for signs that she knows that she did something wrong, specifically, and why she did so (not just lip service). You know your daughter best, I assume you can be a judge on how it feels when she is being honest. "Tough" does not mean that you yell at her, but that you don't let her "off the hook" either. Preferably she does most of the talking. Don't hold a monologue while she just nods and says "yes".
2. Let her take full responsibility. This means she will pay any money that needs to be payed (ticket, increased insurance policies...). Obviously, as she is probably not earning much at 16 years, this will take a while. If she has some money put aside, then she will have to take it from there. Do not simply pay her ticket! This is incredibly important.
3. If there are other consequences (court etc.), make sure she is there, and not proxied through you. If someone needs to talk to lawyers or judges, make sure she does that. Obviously you are going to be with her, but she is supposed to do the talking, and you will not screen her from the experience. Do not argue for her, as there is nothing to argue about.
4. If The Talk in "1." did not go well, for example if she started yelling at you, or ran out and smashed doors, or you have the impression that she is just paying lip service, then first and foremost, make sure she will not drive again right until the time when you are sure that she has got the message and is able to talk civilly with you again. Or in other words, until she is mature enough to handle a 1-2 tonne block of steel at speed. Her not being able to accidently maim or kill someone is your prime objective. If she is really inappropriate, at your discretion feel free to not drive her around that much anymore, which would be a directly related punishment if you so wish.
5. If The Talk basically went well, but you still think that she should not drive due to immaturity, then you can start driving her around again the same way you did in the past. As I said, being immature is not a crime. A further consequence might be (I do not know your local driving laws) that she may have to do some refresher hours when she finally starts driving again, or you can obviously require her to do so. Which she obviously needs to pay, at your discretion, depending on the level of immaturity.

I do not believe in punishment abstracted from the actual cause. In this case, losing smart phone and TV rights does not help to make her drive more acceptable. Even not knowing your daughter, there is a good chance that she will mostly feel resentment without relating it to the issue at hand. These punishments overshadow the fact of what she actually did - everything will be about the phone and the TV, not the car.

1. Have a long and tough talk with her. Make sure that she knows you love her, but also make sure that you can be as certain as humanly possible that she got the message. You are looking for signs that she knows that she did something wrong, specifically, and why she did so (not just lip service). You know your daughter best, I assume you can be a judge on how it feels when she is being honest. "Tough" does not mean that you yell at her, but that you don't let her "off the hook" either. Preferably she does most of the talking. Don't hold a monologue while she just nods and says "yes".
2. Let her take full responsibility. This means she will pay any money that needs to be payed (ticket, increased insurance policies...). Obviously, as she is probably not earning much at 16 years, this will take a while. If she has some money put aside, then she will have to take it from there. Do not simply pay her ticket! This is incredibly important.
3. If there are other consequences (court etc.), make sure she is there, and not proxied through you. If someone needs to talk to lawyers or judges, make sure she does that. Obviously you are going to be with her, but she is supposed to do the talking, and you will not screen her from the experience. Do not argue for her, as there is nothing to argue about.
4. If The Talk in "1." did not go well, for example if she started yelling at you, or ran out and smashed doors, or you have the impression that she is just paying lip service, then first and foremost, make sure she will not drive alone again right until the time when you are sure that she has got the message and is able to talk civilly with you again. Or in other words, until she is mature enough to handle a 1-2 tonne block of steel at speed. Her not being able to accidently maim or kill someone is your prime objective. If she is really inappropriate, at your discretion feel free to not drive her around that much anymore, which would be a directly related punishment if you so wish.
5. If The Talk basically went well, but you still think that she should not drive due to immaturity, then you can start driving her around again the same way you did in the past. As I said, being immature is not a crime. A further consequence might be (I do not know your local driving laws) that she may have to do some refresher hours when she finally starts driving again, or you can obviously require her to do so. Which she obviously needs to pay, at your discretion, depending on the level of immaturity.