European Union car-makers have joined forces to warn of billions of euros in losses in the event of a no-deal Brexit.
Groups including the European Automobile Manufacturers’ Association, the European Association of Automotive Suppliers and 17 national bodies warned of the impact of “no-deal” and the effect on 13.8 million people in the European Union including Britain.
Last week, it was said that Japanese companies and investors would be forced to reassess their four-decade bet on the United Kingdom if there is a disorderly exit from the European Union that shattered supply chains.
The warning came from Japan’s ambassador to London, Koji Tsuruoka speaking about the likely thinking of Nissan, Toyota and Honda. The last has already said it’s closing its Swindon plant and transferring work elsewhere, but not purely as a result of Brexit talks and Ford will close its Bridgend Engine Plant due to falling demand for its Dragon engine in 2020, again not specifically because of Brexit uncertainties.