Read the full article on Bloomberg
Tim Lawrence, head of manufacturing at PA Consulting Group, comments in Christopher Jasper and Suzi Ring’s article in Bloomberg on Brexit and Britain’s car industry.
The piece mentions PA’s recent Brexit and automotive report which estimates that “the cost of assembling a car in Britain could increase by 2,372 pounds ($3,337) under a so-called Hard Brexit, where a 10 percent tariff is imposed”.
Plant closures are most likely at Japanese-owned Honda Motor Co. and Toyota Motor Corp. since they export most of the cars they make in Britain, PA’s report said.
Tim Lawrence says: “It will probably be too risky for both sides to let negotiations fall apart without a deal that allows goods to move between borders with few or no tariffs. Britain is Europe’s second-biggest car market and it’s hugely important for EU companies like the German premium manufacturers.”
UK car factories face uncertain future – post Brexit research on the carmakers most likely to leave the UK