“Automotive is nothing if not determined, adaptable and resilient, yet, as the clock ticks ever closer to midnight on Brexit negotiations, the competitiveness and employment we need get back to growth – green growth – hangs in the balance,” said the group’s chief executive, Mike Hawes. Go to Source
Tag: Brexit
Drive home Brexit deal for Christmas or risk £55bn manufacturing hit, warns UK auto sector
UK Automotive warns of Brexit tariff damage as new figures reveal ‘no deal’ would cut vehicle production by two million over next five years. WTO tariffs would strike £55.4bn blow to UK sector by 2025 with annual production falling below one million units consistently. Brexit deal must work for automotive to sustain competitiveness, help drive… Continue reading Drive home Brexit deal for Christmas or risk £55bn manufacturing hit, warns UK auto sector
German Handelsblatt: Auto industry: BMW withdraws engine production for combustion engines from Germany000813
BMW headquarters in Munich In future, the group will no longer build internal combustion engines at its headquarters. (Photo: AP) Munich The BMW Group is reorganizing its production network. The production of diesel and combustion engines is to be withdrawn from the Munich headquarters by 2024. Large engines will be relocated to the British plant… Continue reading German Handelsblatt: Auto industry: BMW withdraws engine production for combustion engines from Germany000813
Nissan warns on its UK future without a Brexit deal
New Nissan Qashqai to be built at Sunderland plant Go to Source
Nissan’s UK business tough to sustain without Brexit trade deal – COO Gupta
File Image By Tim Kelly and David Dolan TOKYO: Any final exit by Britain from the European Union that worsens business conditions through increased tariffs would threaten the sustainability of Nissan Motor Co’s UK operations, the Japanese car maker’s chief operating officer (COO) cautioned. Nissan, which employs 7,000 people at Britain’s biggest auto plant in… Continue reading Nissan’s UK business tough to sustain without Brexit trade deal – COO Gupta
New car registrations decline -1.6% as Welsh ‘firebreak’ lockdown subdues demand
UK new car market falls -1.6% in October, with 140,945 cars registered, marking a nine-year low for the sector. Welsh ‘firebreak’ accounts for more than half of month’s losses, ahead of new ‘stay at home’ order for England, forcing UK showrooms to close in November. Industry pins hopes on click & collect to avoid repeat… Continue reading New car registrations decline -1.6% as Welsh ‘firebreak’ lockdown subdues demand
German Manager Magazin: Oliver Zipse, BMW: “A hard Brexit won’t kill us” 000295
BMW boss Oliver Zipse (56) sees the elections in the USA and the struggle for one Brexit trade agreement calmly. “We can get along with any government,” Zipse told journalists in Munich. And if Great Britain and the EU should collect customs duties on cars and parts from January, that would be a burden, but… Continue reading German Manager Magazin: Oliver Zipse, BMW: “A hard Brexit won’t kill us” 000295
Aston Martin hikes yield on $1.1 billion junk bond sale to 10.5%
By Abhinav Ramnarayan 2 Min Read LONDON (Reuters) – British luxury carmaker Aston Martin AML.L has increased the yield on offer for its $1.1 billion junk bond sale to around 10.5%, according to a lead manager on the deal, making it one of the highest-yielding bond issues in Europe this year. FILE PHOTO: An Aston… Continue reading Aston Martin hikes yield on $1.1 billion junk bond sale to 10.5%
UK CV manufacturing stable in September but Covid-hit bus sector in critical condition as challenging fourth quarter looms
UK’s overall CV output grows by 3.3% in September, as van production gets fleet order boost. Bus and coach manufacturing remains in critical condition, with output plunging -43.2%, to just 63 units. Year-to-date CV output down -16.8% after months of restricted production and falling business confidence. Industry calls for tariff-free deal with key trading partner… Continue reading UK CV manufacturing stable in September but Covid-hit bus sector in critical condition as challenging fourth quarter looms
UK car production falls -5.0% in worst September since 1995 as industry issues plea for vital Brexit deal
UK car manufacturing output falls -5.0% in September to 114,732 units – the lowest level for 25 years. Exports decline -9.7% to 87,533 units but account for more than three quarters of production. Output for domestic market rises 14.5%, but equivalent to just 3,440 vehicles. SMMT welcomes return to negotiations but calls for both sides… Continue reading UK car production falls -5.0% in worst September since 1995 as industry issues plea for vital Brexit deal