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UK car industry warns next PM no-deal Brexit is not an option

Video Credit: Reuters Studio - Duration: 01:22s - Published < > Embed
UK car industry warns next PM no-deal Brexit is not an option

UK car industry warns next PM no-deal Brexit is not an option

Britain's car industry called for the next UK prime minister to secure a Brexit deal which keeps frictionless trade with the EU, warning a no-deal exit risked border disruption and billions of pounds in tariffs.

The appeal comes a day after Boris Johnson, the favourite to become prime minister in a leadership contest, said he was serious about taking the UK out without agreement on Oct.

31, if a new Brexit deal could not be reached.

Francis Maguire reports.

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UK car industry warns next PM no-deal Brexit is not an option

A warning from Britain's car industry to the country's next Prime Minister... A no-deal Brexit could cripple the industry.

That from The Society of Motor Manufacturers and Traders, Who said carmakers faced billions of pounds in tariffs and border disruption in the event of no deal.

Their message?

Secure a Brexit deal which keeps frictionless trade with the EU.

Boris Johnson and Jeremy Hunt are competing to for the top job, And both said they're willing to leave the EU without a deal - though it isn't the 'preferred option'.

The EU is the biggest export market for Britain's auto sector Carmakers fear a disorderly Brexit could see tariffs of 10% on finished models, And cause border delays that - at an estimated cost of 50,000 pounds a minute - could hurt 'just-in-time' production.

Britain's car sector - rebuilt by foreign manufacturers since the 1980s - has been seen as a success story, But since 2017 sales and investment have slumped, Due to a collapse in demand for diesel vehicles and Brexit uncertainty.

This year, Jaguar Land Rover announced 4,500 job cuts, While Honda said it will close its car factory - and Ford shut one of its two engine plants.

April was also the biggest drop for car production since records began in 1995, As some factories shut down or cut back production in preparation for Britain's original date to leave the EU on March 29.




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