Tag: Brexit

Press Releases – Stable EU auto market in view for 2019, with CO2 and trade challenges ahead

Paris, 13 February 2019 – In 2019, EU car sales will stagnate at 2018 levels in terms of units sold, staying close to the 15 million new registrations mark recorded last year, according to new forecasts by the European Automobile Manufacturers’ Association (ACEA). Although 2018 was the fifth consecutive year of growth, the pace of… Continue reading Press Releases – Stable EU auto market in view for 2019, with CO2 and trade challenges ahead

UPDATE 2-Ford told UK PM May it is preparing alternative production sites -The Times

(Reuters) – Ford Motor Co has told British Prime Minister Theresa May that it is stepping up preparations to move production out of Britain, The Times reported on Tuesday. FILE PHOTO: The logo of Ford is seen during the 88th International Motor Show at Palexpo in Geneva, Switzerland, March 6, 2018. REUTERS/Pierre Albouy The automaker… Continue reading UPDATE 2-Ford told UK PM May it is preparing alternative production sites -The Times

Ford warns of ‘catastrophic’ no-deal Brexit

Ford has said a no-deal Brexit would be catastrophic for the firm’s manufacturing operations in the UK and that it would do “whatever is necessary” to protect its business. The comments come after a report the carmaker was stepping up preparations to move production out of the UK. Ford declined to comment directly on The… Continue reading Ford warns of ‘catastrophic’ no-deal Brexit

‘I’ve assumed the worst’: Aston Martin and Bentley have prepared for slow-motion Brexit crash – The Sydney Morning Herald

Loading Aston Martin’s board before this week authorised contingency planning for Brexit that included shipping car components via air freight to allow for the use of ports other than Dover, which faces potential chaos in a no-deal scenario. For the last eight months, Volkswagen AG-owned Bentley has likewise supplied some parts through an alternative port,… Continue reading ‘I’ve assumed the worst’: Aston Martin and Bentley have prepared for slow-motion Brexit crash – The Sydney Morning Herald

The wheels have come off at Jaguar Land Rover for Tata Motors

by Chris Bryant When companies book a massive writedown, shareholders often just shrug. That’s because impairments usually happen a long time after the market has formed a fairly accurate opinion of the company’s financial position — and a charge doesn’t impact cash. JLR will shell out about 4 billion pounds this financial year on that… Continue reading The wheels have come off at Jaguar Land Rover for Tata Motors

No deal Brexit will force 3-weeks JLR plant shutdown in April, profitability to be hit: Tata Motors

JLR would also need to reassess its manufacturing and sourcing strategy. NEW DELHI: Tata Motors Thursday said in case of a “no deal Brexit” JLR will have two to three weeks of plants shutdown in the UK, while its British arm’s profitability will be adversely impacted in the long term. As part of its preparations… Continue reading No deal Brexit will force 3-weeks JLR plant shutdown in April, profitability to be hit: Tata Motors

Fitch puts Tata Motors on negative watch over JLR’s Brexit woes

The action was prompted by uncertainty ahead of Brexit. Fitch Ratings said on Wednesday it has placed the credit rating of India’s Tata Motors Ltd on negative watch, stating increasing risks for its British luxury car unit – Jaguar Land Rover (JLR) – over a potentially chaotic Brexit. This comes after the ratings agency placed… Continue reading Fitch puts Tata Motors on negative watch over JLR’s Brexit woes

Fitch puts ratings of Jaguar Land Rover under review citing Brexit

JLR, based in central England, is also planning to prune its workforce as it battles to return to profitability amid lower Chinese demand and a slump in European diesel sales. Fitch Ratings said on Tuesday it has placed the credit ratings of Britain’s biggest carmaker Jaguar Land Rover under review for possible downgrades, citing increasing… Continue reading Fitch puts ratings of Jaguar Land Rover under review citing Brexit