Tag: Brexit

UPDATE 1-Ferrari’s CEO “bullish” about earnings, shares jump

MILAN (Reuters) – Ferrari expects growth in core earnings to accelerate to 10 percent this year and Chief Executive Louis Camilleri said he might raise targets for 2020, betting on new models and special editions at premium prices to lure customers. FILE PHOTO – A group of Ferrari owners park their cars to show on… Continue reading UPDATE 1-Ferrari’s CEO “bullish” about earnings, shares jump

Will Brexit kill the British car industry?

The latest UK car manufacturing figures are “deeply depressing” according to Mike Hawes, the chief executive of the Society of Motor Manufacturers and Traders, the automotive industry’s mouthpiece in the UK. If that doesn’t give you a clue to the current sentiment, not much else will. UK car sales fell 6.8% in 2018. UK car… Continue reading Will Brexit kill the British car industry?

Britain’s luxury automakers prepare for worst as Brexit looms – Automotive News Europe

Britain would suffer most if it lost free trade with European markets since 80 percent of vehicles assembled in the country are exported, mostly to the European Union. But for Germany the stakes are also high. In 2016, Britain was the largest single export market for German manufacturers, who sold 800,000 new cars there, or… Continue reading Britain’s luxury automakers prepare for worst as Brexit looms – Automotive News Europe

SUVs hardest hit as used car values fall in January

Used car values dropped 0.7% in January as dealers saw lower retail demand for vehicles priced over £12,000. The drop was larger than the seasonal trend, where over the last five years the movement in Black Book Live for January was an average of -0.4%. A downward trend was seen for all mainstream sectors, but… Continue reading SUVs hardest hit as used car values fall in January

Ford says no-deal Brexit would mean costs of $800m in 2019 alone

Ford Carmaker fears delays at border, weaker economic outlook and tariffs on trade Ford has major operations in the UK, including factories in Merseyside, Dagenham and Bridgend that employ more than 5,500 workers. Photograph: Carl Court/Getty Images Ford has predicted that a no-deal Brexit will result in costs of $800m (£612m) during 2019 alone, in… Continue reading Ford says no-deal Brexit would mean costs of $800m in 2019 alone

Jaguar Land Rover to halt production for a week in April due to Brexit

FILE PHOTO: Signs are seen outside the Jaguar Land Rover plant at Halewood in Liverpool, northern England, September 12 , 2016. REUTERS/Phil Noble/File Photo LONDON (Reuters) – Britain’s biggest carmaker Jaguar Land Rover said on Thursday there would be a week-long pause in production in April due to potential disruption from Brexit which would affect… Continue reading Jaguar Land Rover to halt production for a week in April due to Brexit

Brexit uncertainty a disgrace, says Airbus

European plane maker Airbus has warned that it could move wing building out of the UK in the future if there is a no-deal Brexit. The firm’s chief executive, Tom Enders, said the firm “will have to make potentially very harmful decisions for the UK” in the event of no deal. Mr Enders said it… Continue reading Brexit uncertainty a disgrace, says Airbus

More dealers see Brexit as biggest threat to their business

The number of dealers who see Brexit as the top threat to their business in 2019 has rocketed as the 29 March exit deadline approaches. The latest quarterly Dealer Satisfaction Survey from Close Brothers found that 35% of dealers see Brexit as the top threat to their business compared to just 21% a year ago.… Continue reading More dealers see Brexit as biggest threat to their business

Exclusive: Worst-case no-deal Brexit puts Bentley’s return to profit at ‘fundamental risk’

CREWE, England (Reuters) – Loss-making carmaker Bentley is on track to be profitable this year but a worst-case no-deal Brexit puts that at “fundamental risk”, its boss told Reuters, adding that the chance of Britain leaving the EU on March 29 with a deal now seemed “fairly low.” The Bentley name is seen inside a… Continue reading Exclusive: Worst-case no-deal Brexit puts Bentley’s return to profit at ‘fundamental risk’