Trade body SMMT warns the next Prime Minister ‘no deal’ Brexit could cost the UK auto industry up to £70m a day in tariffs and delays to parts at the border.
The car industry is urging MPs to remove the prospect of a ‘no deal’ Brexit today (Wednesday, March 13) after the Government lost its latest vote.
UK car production fell 9.1% to 1.52m units in 2018, while fresh investment halved, with two thirds of UK’s global car trade at risk from a ‘no deal’ Brexit.
The fleet and leasing industry faces further uncertainty after MPs voted down Theresa May’s Brexit deal.
Fleets may need international permits and insurance ‘green cards’ to drive in the EU in the event of a no-deal Brexit.
The European Automobile Manufacturers’ Association (ACEA) is calling on Brexit negotiators to avert disastrous implications to the automotive supply chain.
The outcome of Brexit negotiations is hanging over the economy, creating uncertainty that makes business planning very difficult, says chairman Glenn Sturley.
The UK automotive industry has called on Government to seek an interim arrangement with the EU that would maintain membership of the single market and customs union.
EU tariffs on cars could hit £4.5bn, with import tariffs alone pushing up the list price of cars imported to the UK from the continent by an average of £1,500.
New car sales and van registrations predicted to fall next year on the back of two-fold assault on costs.
Despite the slump in the value of the pound against the euro, the UK still heads the EU league table of diesel prices, reports the RAC Foundation.
Half of drivers are concerned how Britain’s exit from the EU may affect their motoring, according to an AA Populus poll of almost 20,000 drivers.
Brexit is unlikely to change the course of environmental policy in the UK in the short term, including the introduction of so-called ‘Clean Air Zones’.
Almost two-thirds (64%) of fleets now believe their costs will rise as a result of the UK leaving the European Union (EU).
The UK automotive industry turned over a record £71.6bn last year – up 7.3% on 2014 – and now employs 814,000 people, with 17,000 new jobs created in 2015.
The value of the pound is likely to result in higher prices at the pump despite a drop in the world crude price following the referendum result, says the RAC.
The Government has been urged to secure a deal which safeguards UK automotive after the country voted to leave the European Union (EU).
The IMI is asking the Leave campaign to explain how it will protect independent garages if a Brexit takes place.
The UK motor industry has restated its view that staying in the EU is best for its business and best for British jobs, just days ahead of the referendum.
The fleet industry has come out in favour of leaving the European Union, despite warnings that used car prices could fall and rental costs could rise.
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