Some european cars will rise in price under the Government’s proposed post-Brexit tariffs structures. The new tariff regime would mark a shift in favour of products from non-EU countries. Even so, they mean 82% of imports from the EU would be tariff-free, down from 100% now, while 92% percent from the rest of the world would pay no border duty, up from … [Read more...]
Parts & repairs face rise after March 2019
British motorists could see their annual car service and repair costs rise by 10% to £777 after Brexit if no deal is reached between the UK and the EU. A new report by the Society of Motor Manufacturers and Traders shows that the UK’s collective car repair bill could rise by more than £2 billion if tariffs and other barriers to trade are imposed. The … [Read more...]
Parts business is booming for suppliers
The global automotive aftermarket continues to offer long-term business opportunity, according to industry experts at IHS Markit. Mark Seng, director, global automotive aftermarket practice at IHS Markit, set the stage for the industry during his annual assessment of trends for the aftermarket. New vehicle sales are expected to reach nearly 90 million … [Read more...]
