Automakers including Nissan Motor might struggle to qualify some U.K.-assembled models for tariff-free export to the EU as they evaluate their local sourcing.
By a thread
The Brexit deal eliminates the risk of widespread exodus, but still could fall short for carmakers with too little leeway to take on more expenses. Any further fallout could have big implications for the UK economy.
The country s auto industry employs more than 860,000 people, over a fifth of whom are on staff at vehicle and parts factories. Carmakers sent 42.4 billion pounds ($57 billion) worth of autos and components overseas last year, 13% of the nation s total exports.
The domestic market is unlikely to compensate for any lost overseas sales. Registrations already dropped for three consecutive years before being decimated by the pandemic, plunging 31 per cent through November.
Weniger Carsharing während der Pandemie sueddeutsche.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sueddeutsche.de Daily Mail and Mail on Sunday newspapers.
BMW Could move MINI production to Europe or China post Brexit
Home » MINI » BMW Could move MINI production to Europe or China post Brexit
As we’re getting closer to the end of this challenging year, the EU and UK are also getting to the point when they will say goodbye for good. The Brexit situation has been looming over the world for quite some time now, ever since the UK voted to leave the EU in 2016. The implications of this move have been speculated upon a number of times but nobody could easily estimate what kind of impact this change would have on the world economy as the separation terms hadn’t been set in stone. As January 1, 2021 is rapidly approaching we’re learning that an agreement might not be reached.
BMW is discovering the cost of a no-deal Brexit spectator.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from spectator.co.uk Daily Mail and Mail on Sunday newspapers.