FRANKFURT (Reuters) – Volkswagen could sell a smaller stake in its Traton trucks division than expected if markets are shaken by Brexit, two sources familiar with the matter told Reuters on Monday. FILE PHOTO: The logo of Volkswagen’s truck unit Traton, former Volkswagen Truck & Bus AG, is pictured in Hanover, Germany September 19, 2018.… Continue reading UPDATE 1-VW could sell smaller trucks stake if markets in a spin – sources
Tag: Brexit
‘Fanciful’ to say Honda didn’t consider Brexit when closing Swindon
Brexit Sir David Warren, former British ambassador to Tokyo, says UK-Japan trade and investment ‘held hostage’ by Conservatives’ internal politics Takahiro Hachigo, president of Honda, bows before a press conference in Tokyo on Tuesday. Photograph: Tomohiro Ohsumi/Getty Images Claims that Brexit had nothing to do with Honda closing its only UK manufacturing plant are “fanciful”,… Continue reading ‘Fanciful’ to say Honda didn’t consider Brexit when closing Swindon
Carmakers quitting Britain won’t blame Brexit – it’s not in their interest | Phillip Inman
Opinion Automotive industry Carmakers quitting Britain won’t blame Brexit – it’s not in their interest Phillip Inman Business leaders know that mentioning the B-word just isn’t worth the risk of souring consumer sentiment New vehicles leave the Honda plant in Swindon. Photograph: Adrian Dennis/AFP/Getty Images In 2012 a wave of anti-Japanese nationalism griped China. Angry… Continue reading Carmakers quitting Britain won’t blame Brexit – it’s not in their interest | Phillip Inman
Porsche asks UK buyers to commit to 10% no-deal Brexit surcharge
Porsche Company says move is a precaution in case WTO tariffs apply to EU-UK trade Porsche’s production line in Leipzig, Germany. Photograph: Matthias Rietschel/Reuters Porsche is asking British customers to sign a contract committing them to pay a surcharge of up to 10% of their vehicles’ purchase price if there is a no-deal Brexit. Cars… Continue reading Porsche asks UK buyers to commit to 10% no-deal Brexit surcharge
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