The effects of a “hard” Brexit will be decisive for the innovation capacity and competitiveness of the British automotive industry.
- The first adverse signs: investment, production and sales in decline
- Access to the European single market is and will remain vital
- Financial obstacles and a drop-off in labour quality are to be anticipated
After an exceptional peak in production of vehicles recorded in mid-2016 (1.02 million unit sales, up 8.5% for the January-August period compared to the same period in 2015), 2017 saw a drop in production of nearly 2%. The healthy dynamic of exports in this industry, strongly oriented toward the European market (79% of vehicles assembled in the UK are exported, 56% of which to the other countries of the EU), does not compensate the drop in internal demand generated by a loss of consumer confidence…
View the full story here: THE EFFECTS OF BREXIT ON THE UK AUTO INDUSTRY