Tag: Brexit
Johnson’s no-deal threat ‘further cause for concern’ for UK auto industry: GlobalData
Ahead of the trade negotiations between the UK and EU next month, prime minister Boris Johnson has vowed to walk away from the table if political and legal sovereignty conditions are not met.
New European tyre label confirmed, extended to include retreads
Following the news that there will be a new EU tyre label in 2021, the Council of the European Union has announced that it will officially adopt its position relating to the new label on 25 February 2020. In short the new tyre label has been confirmed and will in time be extended to include retreads. At the same time, the rescaling of fuel efficiency and wet grip measures has been halted.
Confirmed UK-EU trade barriers ‘worrying for UK auto industry’, says GlobalData
Government cabinet minister Michael Gove has confirmed that trade barriers will be imposed between the UK and the EU post-Brexit, warning businesses to prepare for “significant change.”
CAM’s new online payment gateway described as Brexit ready
CAM is introducing a new online payment gateway in April 2020 that will align with future trading conditions to be negotiated between the UK and its EU trading country partners in the months ahead. It will also meet the SCA (Strong Customer Authentication) Regulation, part of the EU Revised Directive on Payment Services, which came into force on 14 September 2019, aimed at reducing fraudulent crime associated with online debit and credit card payments.
SMMT calls again for “ambitious” EU trade deal as UK car production drops 16.5% in November
Car production in the UK fell by 16.5 per cent year-on-year in November, with figures from the Motor Manufacturers and Traders (SMMT) showing that 107,753 units were manufactured during the month. Output for home and overseas markets declined 26.6 per cent and 14.2 per cent respectively.
UK car production falls -4.0% in October
UK car manufacturing output fell -4.0 per cent in October, with 134,752 units rolling off production lines, 5,622 fewer than October 2018, new Society of Motor Manufacturers and Traders (SMMT) figures show. British car production has now fallen in 16 of the last 17 months, with August the outlier. ‘No deal’ Brexit contingency shutdowns earlier in the year artificially boosted output that month.
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.”
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.
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.
So long, farewell, auf wiedersehen, goodbye EU
As the February 2020 issue of Tyres & Accessories goes to press, the United Kingdom is officially leaving the European Union after three years of intense dispute and debate. At the same time, 2019 wasn’t a great year for the automotive and tyre industries (see page 36 onwards for further details of what has transpired during the last 12 months). And with a no-deal scenario presenting the possibility of import tariffs on and parts, 2020 doesn’t look like it is going to be a whole bunch better. However, while the disappointing performance of the car and tyre markets is linked to Brexit, the issues are not one and the same.
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