+ Publish Ad FREE !
Ads stats: last 24h - 56, actual - 1105, total - 103780

The UK Votes For Brexit And It Will Impact Automakers

27 June 2016 - Autoblog

The UK Votes For Brexit And It Will Impact Automakers

It's the few days after the United Kingdom voted for what's become known as Brexit – that is, to leave the European Union and its tariff-free internal market.

Now begins a two-year process in which the UK will have to negotiate with the rest of the EU trading bloc, which is its largest export market, about many things. One of them may be tariffs, and that could severely impact any automaker that builds cars in the UK.

This doesn't just mean companies that you think of as British, like Mini and Jaguar. Both of those automakers are owned by foreign companies, incidentally. Mini and Rolls-Royce are owned by BMW, Jaguar and Land Rover by Tata Motors of India, and Bentley by the VW Group. Many other automakers produce cars in the UK for sale within that country and also export to the EU. Tariffs could damage the profits of each of these companies, and perhaps cause them to shift manufacturing out of the UK, significantly damaging the country's resurgent manufacturing industry.

Autonews Europe dug up some interesting numbers on that last point. Nissan, the country's second-largest auto producer, builds 475k or so cars in the UK but the vast majority are sent abroad. Toyota built 190k cars last year in Britain, of which 75 percent went to the EU and just 10 percent were sold in the country.

Investors are skittish at the news. The value of the pound sterling has plummeted by 8 percent as of this writing, at one point yesterday reaching levels not seen since 1985. Shares at Tata Motors, which counts Jaguar and Land Rover as bright jewels in its portfolio, were off by nearly 12 percent according to Autonews Europe.

So what happens next? No one's terribly sure, although the feeling seems to be that the jilted EU will impost tariffs of up to 10 percent on UK exports. It's likely that the UK will reciprocate, and thus it'll be more expensive to buy a European-made car in the UK. Both situations will likely negatively affect the country, as both production of new cars and sales to UK consumers will both fall. Evercore Automotive Research figures the combined damage will be roughly $9b in lost profits to automakers, and an as-of-yet unquantified impact on auto production jobs.

Perhaps the EU's leaders in Brussels will be in a better mood in two years, and the process won't devolve into a trade war. In the immediate wake of the Brexit vote, though, the mood is grim, the EU leadership is angry, and investors are spooked. We won't know for sure what the real fallout will be for the automotive sector until a deal is negotiated, and until then investors will reflexively shy away from uncertainty. Certainly no automaker is likely to pour any resources, like building a new factory or increasing production output at a UK plant, until the terms are hashed out.

If there's a bright side, now might be the perfect time to import that classic British car you've always wanted. Small comfort, sure, but worth a mention.

News By Tags

2011 models2012 models3D printing458 italia6-series coupeA1A2abc motorsabu dhabiaccidentaccidentsaccordACIMacuraadidasADSUadvertisingafricaagalegaAIair pollutionairbagairbagsairbusairportAlan GanooAlbionalcotestalfaalfa romeoalgeriaalibabaAllemangeAllied MotorsAlmaalpineAmauryamazonamendesamphibiousandroidAnil BachooAnse-la-Raieappappleappointmentsappsapriliaarabiaargentinaarielarnold schwarzeneggerarsenalArtashok leylandasiaastonaston martinAston Martin ZagatoauctionaudiAudi E-TronAudi Q3Audi Q8audit reportaustraliaAustralian Grand Prixaustriaautoauto industryauto shanghaiauto showauto-écoleautonomous carautonomus carAutopilotautopont de Decaenautopont Decaenautoroute M1aventadorawardsAxessBABagatellebahrain grand prixBAIBaie-du-TombeaubajabajajBalaclavaBambousBangkok International Motor ShowBangkok Motor ShowBangladeshBarklybatmobilebatterybattlebeachbeachesBeau-BassinBeau-ChampBeau-VallonBeaux SongesBeaux-SongesbeetleBeijing Auto ShowBeijing Motor ShowBel-AirBel-EtangBel-Ombrebelgian grand prixBelgiumBell VillageBell-VillageBelle-MareBenellibentleyBentley BentaygaBentley Continentalbernie ecclestonebetamaxbetamax casebicyclebicyclesbikebikesbiodieselBlackBerryBlue-BaybmwBMW 3 SeriesBMW 4 SeriesBMW 8 seriesBMW i8BMW ix3BMW M2BMW M3BMW M4bmw m5BMW X2bmw x3BMW X5BMW x6BMW x7BMW z4boatboatsboeingBogota Auto ShowBois-MarchandBois-Marchand accidentBois-PignoletBologna Motor ShowBon-Accueilbondboschboston dynamicsBPObrabusbrakesBramsthanbrazilbrexitbribebribesbridgebridgestonebrioBrisée-VerdièreBritish Grand PrixbudgetbugattiBugatti ChironBugatti La Voiture Noirebugatti veyronbuggybuickburnoutbusbusesbuyingbydcadillaccalebassescamaroCamp ChapelonCamp-ChapelonCamp-de-MasqueCamp-DiableCamp-LevieuxCanadacanadian grand prixCandosCanotCap-Malheureuxcaporal Chooluncarcar buying tipscar dealercar dealerscar firecar importcar industrycar loancar marketCar Of The Yearcar rentcar rentalcar salecar salescar servicecar sharingcar showcar theftcar washcarbon fibercarburantsCarlos GhosnCarPlaycarscartingcascavelleCaudanCCIDCCTVCEBcelebretiescelebritiescentre de fitnessCentres De Fitnesscertificat de fitnesscertificats de fitnessCESChamarelChamp de MarsChamp-de-MarsChebelChemin-GrenierChengdu Motor ShowcherychevroletChevrolet CamaroChevrolet CorvetteChicago Auto ShowchinaCHINESE GRAND PRIXChris EvanschryslerCité Vallijeecitroencivicclassicclassic carclassic carsclassicsClémenciacode de la routecollectioncommercialcomparisonconceptconceptsConfinementConstanceconsumer reportsContract buscontraventionsconvertiblecoromandelCoronaviruscorruptioncorvetteCottagecour suprêmeCourtCourtscouvre-feuCOVID-19CPBcr-vcrashcrash testcrash testsCristiano Ronaldocrossovercrowdfundingcruise shipCubaCupraCurepipecurfewcustom bikecustom carcustomsCUVCWACybertruckcyclonedaciadaihatsudaimlerdakardakar rallydartzdash camdashcamdatsunde tomasodealersdéconfinementdecongestion routiereDelhi Auto ExpodeloreandesignDetroitDetroit Auto Showdéviationdéviationsdéviations routièresdieseldiesel scandaldieselgateDIVADIYDLCdodgedodge demonDonald TrumpDPPdragdrag battledrag racedrag racingdriftdriftingdriver licensedriverless cardrivers licensedrivingdriving licensedriving schooldriving schoolsdriving testdriving tipsdronedronesdrug racedrugsdrunk drivingdsDubaiDubai Motor ShowducatiDysonD’EpinayearthquakeEbayebeneEbène Car ParkecoecologyeconomyEducationEICMAelecticelectionselectricelon muskemissionsEmmanuel Macronengen motor showengineenginesEOCescroquerieethanoletios livaEUEuropeeveventsexamens de conduiteexcès de vitesseexpofacebookfailfakefake policeFast And Furiousfaux coupons de parkingfaux permisfaux permis de conduireFCAfeeder busfeeder busesfermetureFernando Alonsoferrariferrari 812ferrari romaferryFIAfiatfiestafilmsfinancesfinefinesfinlandFireFirefightersfishingfiskerfitness centerFlacqFlic-en-FlacfloodFloodsFlorealflying carflying taxiFond-du-SacFootballForbachForbach accidentforce indiafordFord BroncoFord F-150ford fiestaford focusFord mustangFord Mustang Mach-EFord Rangerforest-sideformula Eformula1forza motorsportFrancefrankfurtfrankfurt motor showfraudFSCfuelfuel economy scandalfuel pricefuel stationfuel stationsfunnyfutureGaikindo Indonesia International Auto ShowGaikindo Indonesia International Motor Showgamesgare de Rose-HillGare du Nordgare VictoriageargeelygenesisGeneva Auto Showgeneva motor showgerman grand prixGermanygirlsgmgodzillagolfgolf carGoodlandsgoodwoodGoodwood Festival of Speedgooglegoogle glassgoogle mapsGoProgovernmentgpsgran turismogrand tourgrand-baieGrand-BassinGrand-BoisGrand-GaubeGrande-RivièreGrande-Rivière-Nord-Ouestgreat wallgreecegreengreen energygrnoGros-BoisGros-CaillouxGRSE accidentGTAGymkhanahackershakershamannharley davidsonharley-davidsonHatchbackhealthcarehellcatHennesseyHenriettaHermitageherohertzhighlandshistoryhit and runhitachiholdenHollandHollywoodhondaHonda AccordHonda BrioHonda Cityhonda civicHonda Civic type rhonda cr-vHonda Ehonda fitHonda HR-Vhonda jazzhonda monkeyHonda s2000Honda VezelHong Konghorse racinghorsepower falsifyingHospitalhospitalshot rodhot wheelshotelhotelshoverbikehoverboardhow toHuayrahummerHummer H1Hummer H2humorhungarian grand prixhurricaneHusqvarnahybridhydrogenhypercarhyundaiHyundai CretaHyundai ElantraHyundai i20hyundai ioniqHyundai KonaHyundai Santa Cruzhyundai Santa Fehyundai sonataHyundai TucsonHyundai VelosterHyundai Venuei3i40ICACiframacIIHSillegal racesillegal racingillegal rallyillegal taxiillegal transportIMCimportindiaIndia Auto ExpoIndian Motorcycleindian motorcyclesIndian OilindicaIndonesiaIndonesia International Motor Showindonesia motor showinfinitiInfinityinfotainmentinfrastructureinsuranceintelinteriorinteriorsiPadiphoneiranirelandIRPisraelisuzuIsuzu D-maxIsuzu MU-Xitaliaitalian grand prixItalyjaguarJaguar Land Roverjamesjames bondJames MayJan Palach stationjapanjapaneese carsjapanese carjapanese carsJapanese Grand PrixJawajazzJDMjeepJeep CherokeeJeep GladiatorJeep Grand CherokeeJeep Renegadejeep wranglerJeremy ClarksonjettaJin FeijobjobsJohn DeerekartkawasakiKawasaki Ninjakei carken blockKenyakhankiaKia CeedKia ForteKia NiroKia OptimaKia SorentoKia SportageKia Stingerkia TellurideKoenigseggkoreaKoshik ReesaulKTMKTM DukeLALA Auto ShowLa Brasseriela butteLa ChaumièreLa FloraLa GauletteLa MarieLa PrairieLa Tour KoenigLa VigieladaLallmatielamborghiniLamborghini Aventadorlamborghini diablolamborghini gallardolamborghini huracanLamborghini SiánLamborghini UruslanciaLancia Stratoslandland cruiserland roverLand Rover DefenderLand Rover DiscoveryLarsen & ToubroLaventurelawlawslazarethLe HochetLe MornelealLebanonLeevy Frivetlegolewis hamiltonlexuslicenselicense platelight metrolimousinelincolnlink roadLionel MessiLockdownlondonLos Angeles Auto Showlotuslow cost carLRTluxuryluxury carluxury carsL’AventureL’EscalierM1m2m3macondemad maxMadagascarmaha shivaratreeMahebourgmahindramaintenancemalaysiamanmansorymanual transmissionmanufacturingMapoumapsMare d’AlbertMare-d’Albertmarketmarketingmartinmarutimaruti suzukiMaruti SwiftMaruti Wagon RmaseratiMatt LeBlancMauricioMauritiansmauritiusmaybachmazdamazda 3Mazda 6Mazda MiataMazda Mx-30Mazda Mx-5Mazda RX-7mazda3McLarenMcLaren 720smecedesMELmercedesMercedes AMGMercedes E63Mercedes G-ClassMercedes G63Mercedes GLEMercedes S-ClassMercedes X-classMercedes-MaybachMESmetroMetro Expressmexican grand prixmexicoMGmichael schumachermichelinMicrosoftMidlandsminimini cooperminivanMITDmitsubishiMitsubishi DelicaMitsubishi EclipseMitsubishi L200mitsubishi lancerMitsubishi MirageMitsubishi OutlanderMitsubishi PajeroMitsubishi TritonMitsubishi XpandermitsubushimitsuokaMMMMokamonacomonaco grand prixMont-ChoisyMont-RochesMontagne-BlancheMontagne-LongueMontagne-OrymontebelloMontebello accidentMontée Smontereymoose testmoparMorcellement St AndrémorganMorneMoroccomotoMoto Guzzimoto-écoleMotoClub Racing TeammotorMotor Racing Clubmotor showMotor Vehicle LicenceMotor vehicle test centremotorcyclemotorcyclesmotorsportmotorsportsmotosportmoviemoviesMPAmpvMRAMRCmugenmuscle carMusicmustangmv agustamv augustaMVDANADA Auto ShowNandanee SoornackNando BodhananonascarNational Coast Guardnavigationnavigation systemnavigation systemsNavin RamgoolamNCGNDUNepalnetherlandsnew carnew york auto shownew zealandnfsNHTSANigerianikolanissanissanNissan 370ZNissan 400Znissan altimaNissan AriyaNissan FrontierNissan GT-RNissan GT-R50Nissan JukeNissan KicksNissan LeafNissan Leaf NismoNissan MicraNissan navaraNissan NoteNissan PatrolNissan RogueNissan SentraNissan SkylineNissan TerraNissan TitanNissan X-trailNissan ZnorwayNouvelle-FranceNTANTCNTLANürburgringoff-roadoffroadOlympic GamesOnline Renewal of Motor Vehicle LicenceopelOpel Corsapaganipagani huayraPagani ZondaPaillesPakistanPalmarPamplemoussespanasonicpapamobileParisparis motor showparkingparliamentPebble Beachpenaltiespenalty pointsPereyberepermis de conduireperoduapetit raffrayPetit-RaffrayPetite-RivièrepetrolPetrol Retailers AssociationpeugeotPeugeot 2008Peugeot 208peugeot 508PhilippinesPhoenixPhœnixpickuppickupspininfarinapirelliPitonPlace de l’ImmigrationPlace D’ArmesPlaine MagnienPlaine-des-PapayesPlaine-des-RochesPlaine-LauzunPlaine-MagnienPlaine-VerteplayboyPNQPointe d’EsnyPointe-aux-PimentsPointe-aux-SablespolandpolarispolestarpolicepoliticspollutionpompiersPomponettepontPont ColvillePont-BlancPont-FerpontiacpopemobilePor Louisporscheporsche 911Porsche BoxsterPorsche CayennePorsche MacanPorsche TaycanporsheportPort LouisPort-LouisPoste-de-FlacqPoste-LafayettePoudre-d’Or-HamletPPCPPPprankPravind JugnauthpricepricespriusproguardprotestsprotonPSApublic transportpublict transportQ3qorosQuartier-MilitaireQuatre Bornesquatre-bornesr8Raceracingrainrallyrallyerallye illégalrallye motoramrangerange roverratingsRDArecallrecallsrecordrecordsred bullred bull car park driftreduitrenaultRenault ClioRenault Kwidrenault meganeRenault TwingorenderingRenewal of Motor Vehicle Licencerent a carrepairreplicaretroReunionRezvaniRHTRiambelRichard DuvalRichard HammondRiche TerreRiche-TerreRichelieurickshawrimacRimac C_TwoRing RoadrioRipaillesRiviere-des-AnguillesRivière-du-PosteRiviere-du-RempartRiviere-Noireroadroad accidentroad accidentsroad closedroad closureroad rules & regualtionsroad rules & regulationsroad safetyRoad TaxRoad Traffic (Amendment) BillRoad Traffic ActRoad Traffic Amendment ActRoad Traffic Amendment BillRoad Traffic Billroadsroads safetyrobberyrobotrobotsroche-boisRoche-TerreRodrigo DuterteRodriguesrolls-roycerolls-royce cullinanromeorond-point de Beau-BassinRose BelleRose Hillrose-belleRose-HillroverRoyal EinfieldRoyal EnfieldRoyal Enfield Continental GTRRSRSURuben RacingRue Jemmapesrue VandermeerschrumoursRussiaRussian Grand PrixrvsaabSafe Citysafetysafety ratingsafety ratingssafety testsafety testsSaint-PierreSainte-Croixsalesamsungsamusao paulo auto showSao Paulo Motor Showsaudisaudi arabiascamscandalscaniaschool busschool vanscooterscootersseatsebastian vettelSebastopolsecond hand carsecond hand carssecond hand cars importsécurité routièreself driving carself-drivingself-driving carself-driving carsSEMASEMA showSeoul Motor Showservice stationservice stationsShanghaishanghai motor showShehzad SooraballyshelbyShellshowsingaporeSingapore Grand PrixskodaSlovakiasmartSMFsnakeSobrinho caseSodnacsoftwareSohail Sesungkursolar energySolitudesonysorezesoreze accidentSouillacsoulsound systemssouthsouth africasouth koreaspaceXspainSpanish Grand Prixspare partsspeed cameraspeed camerasspeed limitspeedboatspeedingsportSportscarspy shotsssang yongSsangYongssuSt-JeanSt-Jean roadSt-JulienSt-LouisSt-Paulst-pierrestar warsstartupstation-servicestations-servicestatisticsSTCste croixSte-Croixstreet racingstrikestudysubaruSubaru BRZSubaru ImprezaSudhir SesungkursudySunshine AutosupecarssupercarssuperyachtsuprcarssurfboardsurveySUVsuzukiSuzuki BurgmanSuzuki ErtigaSuzuki HayabusaSuzuki IgnisSuzuki IntruderSuzuki JimnySuzuki S-CrossSuzuki Swiftsuzuki vitaraSuzuki Wagon RSuzuki XbeeSwedenswiftSwitzerlandTATaiwantakatatamarintankTanzaniaTarisa Resorttatatata motorstaxtax fraudtaxestaxiTBStechnlogytechnolgytechnologytenderTerre-RougeTerre-Rouge–Verdunteslatesla model 3tesla model stest drivetestsThai Motor ExpoThai Motor ShowthailandThailand International Motor ExpoThe Grand TourThe ValetheftThierry Henryticket pricetipstiresTMRSUtokyoTokyo Auto Salontokyo motor showtoptop geartotaltourismtourism authoritytoyotaToyota 86Toyota AlphardToyota AvalonToyota Aygotoyota C-HRtoyota camryToyota CenturyToyota CH-Rtoyota corollaToyota FortunerToyota HiaceToyota HighlanderToyota HiluxToyota Land CruiserToyota PriusToyota RAV4Toyota RushToyota Siennatoyota supraToyota TacomaToyota TJ CruiserToyota TundraToyota Venzatoyota yaristoystoytatractortrafficTraffic BranchtrailerTranquebartransformersTransinvesttransporttransport policeTravaux routierstrendsTrianontricksTriolettriumphTrois-BoutiquesTrou d’Eau DouceTrou-aux-BichesTrou-d'Eau-DouceTrou-d’Eau-DouceTrou-Fanfarontrucktruckstsunamitug of wartuningtuniningTurfTurkeytvsTyacktyresUAEuberUBIWUBSukukraineunionsUnited StatesuomuralUrban TerminalUSUSAused carused car importused carsVacoasVacoas-PhoenixvalettaVallée-des-PrêtresVallee-PitotValtonvanvarma caseVeer Luchoomunvehicle inspectionVehiclesvelostervenezuelaVerdunVictoria Bus StationVictoria stationVictoria Urban TerminalvideoVienna Auto ShowvietnamVintagevintage carvintage carsVipervivo energyvoitures reconditionnéesvolvolkswagenVolkswagen Golfvolvovwvw beetleVW Buggyvw golfVW ID.3VW JettaVW passatvw polovw t-crossWakashiowaymoWeatherwheelsWolmarWootonWork Access PermitWorldyachtyachtsyamahayariszagato
Sell Your Car