Mexican Media Brands
Carmakers Urge Delay Over No-Deal in Brexit
Britain’s auto trade group is urging the U.K. to delay its scheduled exit from the European Union rather than leave with no trade deal.
#labor
Share
Britain’s auto trade group is urging the U.K. to delay its scheduled exit from the European Union rather than leave with no trade deal.
Mike Hawes, executive director of the Society of Motor Manufacturers and Traders, tells Reuters that a no-deal Brexit on Oct. 31 “the worst outcome.”
SMMT estimates that investment in the British auto industry plummeted 70% in the first half of 2019 to a mere £90 million ($111 million). Hawes says crashing out of the EU with no new trade pact in place would continue to make it “very, very difficult” to attract further investment.
SMMT has repeatedly warned that a lack of stability for supply chains could be a final blow to the viability of the industry.
RELATED CONTENT
-
Denmark, 10 Other EU Members Urge Piston Ban
Denmark and 10 other member nations of the European Union have urged the region to allow them to end gasoline and diesel engine sales by 2030.
-
VW, the Future & the End of “Conventional” Jobs
"In order to become a global provider of sustainable mobility, we are pressing ahead with future projects such as electromobility, digital connectivity and new mobility services, equipped with the necessary resolve and financing.”
-
Bentley Looking for Apprentices
It is always encouraging to learn about the efforts of OEMs and suppliers that are running apprenticeship programs to help train the future of the industry.