REUTERS/Phil Noble
- A no deal Brexit is "not an option" for UK car manufacturers, the head of Britain's auto manufacturing group said on Tuesday.
- "No deal... is just not an option. It would be seriously damaging to the industry not just in the UK but in Europe as well," Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders (SMMT) said.
- The warning was made more stark as new figures show that nine out of ten cars built in the UK in the last month were due for export rather then domestic sales, as demand in the domestic market collapsed by 47%, Reuters reported.
- "A no-deal scenario is feared by volume UK auto manufacturers which could affect the smooth running of plants and squeeze the already tight cost margins of British car companies selling to Europe," David Leggett, a director and car industry analyst at Just Auto, told Business Insider.
A no deal Brexit is "not an option" for the UK car industry, considering the disruption and cost carmakers would suffer, the head of the country’s auto manufacturing group said on Tuesday.
Carmakers are "increasingly concerned" about the lack of clarity around the manner of Britain’s departure from the European Union, Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders (SMMT) said, Reuters reported.
See the rest of the story at Business Insider
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- Tesla pushes back the delivery windows for two of the three versions of the Model 3 that are currently available
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