Tag: Brexit

Job loss fears and uncertainty inside JLR – workers speak out

Aggrieved staff at Jaguar Land Rover plants have lifted the lid on “anger” and “bitterness” among colleagues, with one whistle-blower revealing how “most people are waiting for the axe to swing”. Employees returned to work a fortnight ago following two-week shutdown period after JLR chiefs announced a freeze in vehicle production. It came after the… Continue reading Job loss fears and uncertainty inside JLR – workers speak out

McLaren Automotive boss says PM May’s Brexit deal gives certainty

The UK is the largest export market for German car suppliers in Europe, with 18 percent of auto parts used in British factories coming from Germany — the home of industry giants Bosch, Continental and ZF Friedrichshafen. LONDON: The draft Brexit agreement between Britain and the European Union gives certainty to British business whilst no… Continue reading McLaren Automotive boss says PM May’s Brexit deal gives certainty

PSA may still close a UK Vauxhall factory post-Brexit

Previously, PSA Group CEO Carlos Tavarez stated that the Ellesmere Port plant must close the cost and quality gap between it and its European equivalents if it’s to survive. Speaking at the 2018 Geneva motor show, Tavares highlighted that the PSA Group’s plants, including those that came as part of the Opel and Vauxhall acquisition, will all have… Continue reading PSA may still close a UK Vauxhall factory post-Brexit

‘Insane’ for UK and EU to harm border trade, McLaren CEO says

Confident of Brexit deal, McLaren CEO says
1 Hour Ago | 02:21

The chief executive of British sports car maker McLaren Automotive has told CNBC that it would be “insane” for the United Kingdom and European Union (EU) to fail to agree a deal on Brexit.

Mike Flewitt said he spoke to U.K. Prime Minister Theresa May on a conference call two weeks ago and he is confident that a withdrawal deal will be done. How to maintain the frictionless movement of goods between Ireland and Northern Ireland after Brexit remains a sticking point in negotiations. However, the supercar executive warned that any outcome that slowed the cross-border movement of goods would be hugely damaging.

“It would be insane, both for the EU and for the U.K. to run into a situation where we're affecting imports and exports through that period,” he said, before adding “We shouldn't let ourselves run into a problem like that in this day and age, it would be crazy.”

Flewit stressed that he was not only talking about disruption to the automotive industry.

“Think of food stocks and livestock and anything that's coming across borders being delayed (that) would be a real problem so I'm in the camp of optimists who think we'll find a way through,” he told CNBC's Julianna Tatelbaum at the firm's headquarters just outside London.

McLaren officially opened a new composite factory in northern England on Wednesday, allowing it to directly design and build the carbon chassis of its cars in the United Kingdom. The McLaren Composites Technology Centre (MCTC) has been completed thanks to a £50 million ($64.6 million) joint investment with Sheffield City Council.

Flewitt said that decision, while not Brexit related, would help the car maker's control over manufacturing as it moved more production “onshore.”

“It actually moves our U.K. content up from around about 50 percent to the core by value, closer to 60 percent,” he added.

Trade war

Trade war is hurting China, McLaren CEO warns
1 Hour Ago | 00:55

The McLaren leader described the North American and Chinese markets as both “incredibly” positive despite evidence the trade war effect was starting to erode confidence among Chinese customers.

He said there was no such problem in the United States, even though a level of unpredictability surrounded Washington policy. “Demand has been very positive and is growing in North America. There is a degree of confidence around the economy,” he said.

Flewitt said sales in the Middle East had lagged in 2018, while in Europe most good news was coming out of Germany, Switzerland, and the U.K.

The volume of autos sold by McLaren in 2018 is tipped by the chief executive to be a little over four-and-a-half thousand cars. The latest model to hit showrooms is the McLaren 600LT which is considered an entry-level model at £185,000 ($239,000).

Ineos to shun Teesside with car plant that would have created hundreds of jobs, reports say

Chemicals company Ineos has decided against building its first cars in the North East in favour of a plant in Bridgend, according to reports by the FT. Ineos CEO Sir Jim Ratcliffe revealed last year his intentions to build a new off-road vehicle in the UK, and Teesside officials had hoped that the cars would… Continue reading Ineos to shun Teesside with car plant that would have created hundreds of jobs, reports say

Exclusive: Bentley warns worst case no deal Brexit would hit profitability, investment

LONDON (Reuters) – The boss of carmaker Bentley said failure to reach a Brexit deal would be quite damaging to annual profit in the worst case scenario, limit the company’s ability to invest and could lead to its plant closing for an additional few days. The Bentley logo is pictured on the company’s’ stand during… Continue reading Exclusive: Bentley warns worst case no deal Brexit would hit profitability, investment