Barclays PLC is planning to hire 200 new traders in Paris in a fresh blow to the Square Mile in the wake of Brexit.
13 automotive Brexit myths – busted (SMMT)
11/07/2019
UK automotive industry puts the record straight on ‘no deal’ Brexit impact, as Parliament debates the meaningful vote.
Cars remain the UK’s No 1 export but volatile energy prices and the cost of complying with EU regulations post-Brexit are blunting the industry’s competitive advantage, the sector’s trade body has said.
A £5 billion EU continuity trade deal with Mexico, hailed by Whitehall as an “Aztec Brexit Boost”, has become obsolete – after the EU signed a more generous and comprehensive deal between its 27 members states and Mexico.
Almost all car makers in the UK are having a hard time figuring out new trade rules post-Brexit, the Society of Motor Manufacturers and Traders (SMMT) said on Thursday, as it announced that UK car production rose for the first time in 18 months.
Society of Motor Manufacturers and Traders cuts 2021 forecast after 35.5% year-on-year decline
An industry leader told MPs that the movement of parts is a ‘major challenge’.
British car factories will be forced to close with the loss of thousands of jobs if the UK government does not renegotiate its Brexit deal immediately, automaker Stellantis has warned.
The Chancellor has warned there will be no alignment with EU regulations after Brexit - despite a pledge being made in the North East by Boris Johnson that standards would be protected.
Stellantis, which also owns Citroen, Peugeot and Fiat and employs more than 5,000 people in the UK, says its UK investments were in the balance due to terms of Brexit trade deal.
The sector issues a final plea for a no-deal Brexit to be avoided at all costs, saying the prospect is already hitting jobs.
Tariff hit for electric vehicles likely to be £2,800 per car, with risks to UK’s net zero plans.
Britain's car industry risks losing out even if there is a post-Brexit trade deal with the EU, according to documents seen by the BBC.
UK firms face ‘significant barriers’ to doing business with EU and have less access than Canadian companies, in some cases.
Britain’s car industry warned the next prime minister on Tuesday against a “seismic” no-deal Brexit in October, which it said could add billions of pounds in tariffs and cause border disruption, crippling the sector.
UK car industry posts worst production figures since 1954 as Brexit and coronavirus take their toll
30/07/2020
Even if there is no second wave of coronavirus to shut down factories once again, British car production in 2020 will only recover to about a half of last year’s figure, says industry body.
Fresh inward investment in the sector plummeted in 2018, down 46.5 per cent on 2017 to just £588.6m.
UK car production falls to lowest level in 36 years amid Covid disruption and Brexit uncertainty
28/01/2021
UK factories made 920,928 vehicles last year compared to more than 1.7 million in 2016
The five key metrics are not pointing to anything good.
Production of four of Nissan's car models in Sunderland fell by 10.7% in 2018 according to SMMT research.
Carmakers fear disorderly exit would cripple the just-in-time supply chain, investment and lead to tariff barriers
A "dramatic" fall in car production and an easing of stockpiling by manufacturers meant the economy shrank in April, official figures show.