Tag: Brexit
RMI calls for government clarity on future EU trade for automotive retailers
“It is vital that the government agrees a Brexit deal with the EU. If it cannot, then prices will rise as a result of the import tariffs that will be paid on vehicles and parts. It is in everyone’s interests that a future trade deal between the UK and EU removes these tariffs,” said RMI Chairman Peter Johnson, speaking at this year’s 106th Retail Motor Industry Federation annual dinner in London on 10 October.
No-deal Brexit & European e-commerce
In addition to impacting upon the UK’s automotive industry, a no-deal Brexit presents complications for online tyre and car parts businesses. To gain an insight into changes in customer purchasing habits as Brexit approaches, courier express parcel company DPDgroup tasked market research institute GfK with assessing trends in e-commerce. GfK surveyed 24,258 e-shoppers in 21 European countries on behalf of DPDgroup. What it found was that the payment of additional taxes and duties, as well as longer delivery times, could prove a stumbling block to the future development of cross-border e-commerce in Europe.
SMMT: 1 in 3 auto sector firms shedding jobs ahead of no-deal Brexit
With fewer than 20 days to go before the UK is due to leave the EU, the British automotive industry is urging an end to talk of ‘no deal’ and for all sides to focus energies on an orderly withdrawal to safeguard jobs and the sector’s long-term survival. The call comes as the Society of Motor Manufacturers and Traders (SMMT) publishes the results of a new survey revealing the escalating fears of an industry dependent on free and frictionless trade with the EU.
Automotive industry associations: Brexit not just a British problem
With just over one month to go before the UK is due to leave the EU, the European automotive industry today made a united call for the UK and the EU to avoid a ‘no deal’ Brexit scenario. The lead organisations representing vehicle and parts manufacturers across the EU, the European Automobile Manufacturers Association (ACEA) and European Association of Automotive Suppliers (CLEPA), have joined forces with 21 national associations, including the UK’s Society of Motor Manufacturers and Traders (SMMT), to stress the impact a ‘no deal’ Brexit would have on what they call “one of Europe’s most valuable economic assets.”
Titan International postpones ITM listing
Concerns about the affect of global trade concerns and Brexit upon Europe’s financial markets have led Titan International to postpone a potential listing of its Italtractor ITM S.p.A. (ITM) business. According to company chairman Maurice Taylor, these factors have impacted the company’s ability to suitably evaluate its strategic alternatives with respect to ITM.
UK automotive production drops again as investment dries up
Another blow on the automotive industry’s chin as we inch closer towards a no-deal Brexit. The Society of Motor Manufacturers and Traders (SMMT) has released its latest UK manufacturing figures, and they make a depressing read. British car manufacturing output fell by more than a fifth in the first half of 2019, while commercial vehicle production was down more than 16 per cent and engine production almost 11 per cent. KPMG considers these numbers “worrying.”
Brexit ‘deal must be next PM’s first job’: SMMT
The Society of Motor Manufacturers and Traders (SMMT) has issued a plea to the UK’s next prime minister to secure a favourable Brexit deal as his number one priority on taking office. The call came as the trade body published a new report highlighting the importance of automotive trade to the UK economy and the high stakes of a ‘no deal’ Brexit. SMMT’s 2019 UK Automotive Trade Report calculates that delays to production caused by friction at the border could add up to £50,000 a minute for the sector.
UK economy in reverse after drop in automotive manufacturing
The UK economy contracted 0.4 per cent compared with the month before, following a sharp decline in automotive manufacturing, according to data from the Office for National Statistics (ONS). As a result of the contraction, growth for the three months to April slowed to 0.3 per cent.
UK car manufacturing almost halved in April
British car manufacturing output -44.5 per cent in April, according to figures published by the Society of Motor Manufacturers and Traders (SMMT). Just 70,971 cars rolled off production lines during the month as factory shutdowns, rescheduled to mitigate against the expected uncertainty of a 29 March Brexit, took effect in many plants across the UK.
Brexit planning nearly halves UK car production
UK car manufacturing output plummeted in April, with figures published by the Society of Motor Manufacturers and Traders (SMMT) showing it was down -44.5 per cent year-on-year. 70,971 cars rolled off production lines in the month, as factory shutdowns, rescheduled to mitigate against the expected uncertainty of a 29 March Brexit, took effect in many plants across the UK.
Honda confirms Swindon closure after phase one of consultation
Honda has confirmed that it will be closing its Swindon plant in 2021. The closure will cause the loss of 3,500 jobs. Honda says that it has reached the conclusion that no viable alternatives to the proposed closure of the Swindon plant have been identified.
SMMT to Parliament: Use Brexit extension purposefully
Like a schoolgirl who left an important project to the last minute and then begged teacher for more time, Teresa May has returned from Brussels with a further extension to Brexit. Now we might need to wait until 31 October to discover how the future relationship between the UK and EU will look. The head of the body representing the UK automotive industry considers this waiting and further waiting untenable.
Vellco offering Brexit-proof service
Vellco Tyre Control has reassured its partners and customers of its ability to continue providing the same level of product and service delivery even in the event of a No Deal Brexit. It says it “will remain a dependable supplier of casings across the EU Zone” regardless of the “potential turbulent post-Brexit environment.”
No-deal Brexit ‘will force local production to increase’ – University of Cologne prof
Supply chains will be destroyed because of stricter border controls and, as a result of a no-deal Brexit, we could be forced to buy more local products, according to an expert from the University of Cologne.
New chapter in politics parallels new chapter in UK automotive manufacturing
As we all now know, Boris Johnson became the United Kingdom’s new Prime Minister on 24 July. The first thing he did was replace almost the entire cabinet, with a reshuffle of unprecedented proportions. Next, he gave his maiden speech on the steps of 10 Downing Street, with an address that sought to build a platform for economic and political optimism against the recent backdrop of Brexit stagnation. Not only will we leave the EU by 31 October, we are going to do it in style, he effectively said. In doing so, Boris – as he is affectionately known – revealed as much about the changing nature of the automotive manufacturing industry and its suppliers as he did about British politics.
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