There will be severe repercussions for the European motor industry if there is no free trade agreement Britain before the end of the year and motorists will have to pay more for models. That's the stark warning this week from the car makers' body, ACEA, which includes the Society of Motor Manufacturers in Britain, who warned a disorderly future could cost over £101 Billion by 2025. In a … [Read more...]
UK car production plunges
Car production in the UK fell by an annual 14.4% to 126,195 cars in March, according to the Society of Motor Manufacturers and Traders. Exports were down by 13.4 % and these account for 80% of production. The SMMT said analysis it had commissioned predicted output would fall this year to 1.36 million units from 1.52 million in 2018, assuming there’s a transition deal with the EU. If … [Read more...]
Tradelines 1 August
Canada, the European Union, Japan, Mexico and South Korea met in Geneva to discuss how to respond to threats by US President Donald Trump to impose tariffs on U.S. imports of autos and car parts. It was not immediately clear what kind of response the countries could be looking at, but they may impose their own tariffs or fight the United States at the World Trade Organisation. Tesla is in … [Read more...]