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Published 3 years ago

UK car industry says failure to clinch Brexit deal could cost $74 billion by 2025

Summary
LONDON (Reuters) – Britain’s car industry body on Tuesday called on Brexit negotiators to clinch a deal by the end of 2020, saying failure to do so could cost the sector 55.4 billion pounds ($74 billion) in tariffs by 2025 and undercut its ability to develop the next generation of zero-emission vehicles.

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BBC NewsBBC News

UK car industry warns of £55bn no-deal Brexit hit

Big losses will be seen in the next five years if the UK fails to strike a deal with the EU, the sector warns.

3 years ago·United Kingdom
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Yahoo NewsYahoo News

UK car industry says failure to clinch Brexit deal could cost $74 billion by 2025

Britain's car industry body on Tuesday called on Brexit negotiators to clinch a deal by the end of 2020, saying failure to do so could cost the sector 55.4 billion pounds ($74 billion) in tariffs by 2025 and undercut its ability to develop the next generation of zero-emission vehicles. The Society of Motor Manufacturers and Traders (SMMT) said a "no deal" Brexit would cut UK vehicle production by two million units over the next five years. "Wi…

3 years ago·Los Angeles, United States
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The GuardianThe Guardian

No-deal Brexit would cost UK car industry £55bn, says analysis

Tariffs would make large parts of the business unviable, says study for the SMMTThe UK automotive sector risks losing £55bn in manufacturing value within five years in the event of a no-deal Brexit, according to new industry analysis.British car production could drop below 1m cars a year if there is no deal, compared with more than 1.3m in 2019, because tariffs would make large parts of the UK business unviable, said forecasts commissioned by th…

3 years ago·London, United Kingdom
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ReutersReuters

UK car industry says failure to clinch Brexit deal could cost $74 billion by 2025

By Nick Carey LONDON - Britain's car industry body on Tuesday called on Brexit negotiators to clinch a deal by the end of 2020, saying failure to do so could cost the sector 55.4 billion pounds ($74 billion) in tariffs by 2025 and undercut its ability to develop the next generation of zero-emission vehicles. The Society of Motor Manufacturers and Traders (SMMT) said a "no deal" Brexit

3 years ago·United Kingdom
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The Star Kuala LumpurThe Star Kuala Lumpur

UK car industry to risk 55.4 bln pounds loss under "no-deal" scenario: trade association

LONDON, Nov. 24 (Xinhua) -- The British automotive industry is estimated to witness 55.4 billion pounds (around 73.8 billion U.S. dollars) loss over the next five years if no trade deal is struck between Britain and the European Union (EU), the British Society of Motor Manufacturers and Traders (SMMT) said Tuesday. Read full story

3 years ago·Malaysia
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OANOAN

UK car industry says failure to clinch Brexit deal could cost $74 billion by 2025

November 24, 2020By Nick CareyLONDON (Reuters) – Britain’s car industry body on Tuesday called on Brexit negotiators to clinch a deal by the end of 2020, saying failure to do so could cost the sector 55.4 billion pounds ($74 billion) in tariffs by 2025 and undercut its ability to develop the next generation of zero-emission vehicles.The Society of Motor Manufacturers and Traders (SMMT) said a “no deal” Brexit would cut UK vehicle production …

3 years ago·San Diego, United States
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