Car makers across UK and EU urging politicians to secure Brexit trade deal to avoid ‘catastrophic’ losses
Car makers across the UK and the EU are urging politicians to secure a Brexit trade deal to avoid ‘catastrophic’ losses.
Tariffs would threaten the production of 3m EU- and UK-built cars and vans over the next five years.
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This would mean losses of up to £84billion for the European automotive sector, and threaten thousands of jobs.
Warning: Tariffs would threaten the production of 3m EU- and UK-built cars and vans over the next five years
Speaking for the whole industry, Mike Hawes, of the UK’s Society of Motor Manufacturers and Traders, said: ‘These figures paint a bleak picture of the devastation that would follow a No Deal.
‘The shock of tariffs and other trade barriers would compound the damage already dealt by a global pandemic and recession, putting businesses at risk.’