The true cost to the UK car industry of a no deal Brexit!
This year already has seen production figures fall, along with significant job cuts at some of the UK’s biggest car manufacturing plants. Can just the idea of leaving the European union without a deal already be having a significant impact on car production in this country?
According to the Society of Motor Manufacturers & Traders (SMMT) the simple answer to this question is yes! Trading with over 160 countries worldwide the automotive sector is the single biggest exporter of goods in the UK & with that fact in mind the organisation is sending a very heartfelt plea to the prime minister to ensure a deal is made, as without one in their minds simply isn’t an option.
The UK automotive sector currently generates in excess of £100 billion annually but industry insiders are predicting a huge fall in that figure if a no deal Brexit occurred due to the threat of huge tariff costs & the disruption to transport links being a significant factor in to what could be a catastrophic decline in the industries fortunes.