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
Tag: Brexit
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
Japan, Britain sign free trade deal for post-Brexit era
TOKYO – Japan and Britain signed a bilateral free trade deal Friday in the first such major post-Brexit deal, reducing tariffs on Yorkshire lamb sold in Japan, as well as auto parts for Japan’s Nissan plant. “How fitting it is to be in the Land of the Rising Sun to welcome in the dawn of… Continue reading Japan, Britain sign free trade deal for post-Brexit era
Britain signs first major post-Brexit trade deal with Japan
By Reuters Staff 2 Min Read TOKYO (Reuters) – Britain and Japan formally signed a trade agreement on Friday, marking the UK’s first big post-Brexit deal on trade, as it continues to struggle to agree on a deal with its closest trading partners in the European Union. Slideshow ( 5 images ) “How fitting it… Continue reading Britain signs first major post-Brexit trade deal with Japan
UK carmakers warn no-deal brexit may undermine climate goals
U.K. carmakers warned that a no-deal Brexit could jeopardize the government’s plans to cut carbon emissions by reducing demand for electric vehicles. A failure of negotiators to reach a trade agreement would mean a reversion to World Trade Organization tariffs, which would raise the price of European Union-made EVs sold in the U.K. by 2,800… Continue reading UK carmakers warn no-deal brexit may undermine climate goals
‘No deal’ tariffs would undermine Britain’s green recovery with £2,800 drain on electric car affordability, warns SMMT
New calculations reveal ‘no deal’ tariff threat to Britain’s green recovery, with £2,800 average price uplift on EU-built EV effectively cancelling out UK’s plug-in car grant. Shock of higher cost risks reducing increased BEV demand next year by at least 20%, hampering UK’s efforts to reach ambitious emissions reduction targets. Tariffs would also add £2,000… Continue reading ‘No deal’ tariffs would undermine Britain’s green recovery with £2,800 drain on electric car affordability, warns SMMT
Car buyers face £1,900 additional cost in case of no-deal Brexit
Automotive industry Tariff hit for electric vehicles likely to be £2,800 per car, with risks to UK’s net zero plans The industry fears another damaging hit at a time when the pandemic has cost 600,000 sales compared with 2019. Photograph: Carl Court/Getty The car industry has said a no-deal Brexit will add thousands of pounds… Continue reading Car buyers face £1,900 additional cost in case of no-deal Brexit
‘Extremely damaging’ no deal in Brexit trade talks would cut Bentley’s profits
By Reuters Staff 1 Min Read FILE PHOTO: A logo of Bentley is seen outside a Bentley car dealer, amid the coronavirus disease (COVID-19) outbreak in Brussels, Belgium May 28, 2020. REUTERS/Yves Herman (Reuters) – Failure to strike a Brexit trade deal with the EU would be “extremely damaging” and cut profits by up to… Continue reading ‘Extremely damaging’ no deal in Brexit trade talks would cut Bentley’s profits