Brexit could make UK car industry 'extinct'

The head of Britain's top business lobby group says the country's car industry could be wiped out by Brexit. "There is a risk that the auto industry in the UK faces extinction if there's no customs union after Brexit," warned Paul Drechsler, president of the Confederation of British Industry (CBI). "If we do not have a customs union, there are sectors of manufacturing society in the UK which risk becoming extinct," said Drechsler. The UK auto manufacturing sector employs over 800,000 workers and depends upon a complicated supply chain for shipping parts and cars. Related: Brexit could hurt UK car industry's electric dreamsThe auto industry is also sounding the alarm.

Brexit fears putting 850,000 automotive jobs at risk, warns car industry

Investment in Britain's car industry has halved, warns the sector, urging the PM to stick with the benefits of the single market. More than 850,000 jobs directly and indirectly employed in the sector are at risk because of Brexit, the trade body warned, and called on the government to stick with the benefits of the single market. "The current position, with conflicting messages and red lines, goes directly against the interests of the UK automotive sector which has thrived on single market and customs union membership." "Government must rethink its position on the customs union." Advertisement"There is no Brexit dividend for our industry, particularly in what is an increasingly hostile and protectionist global trading environment.

Trump's tariff threats suddenly look very real in the heartland of Germany's car industry

as mentioned in ☰EuropeTrump's tariff threats suddenly look very real in the heartland of Germany's car industryEmployees work on a Porsche 911 sportscar on an assembly line in Stuttgart, Germany. It's a one-way street."On Friday, Trump suggested that auto tariffs would come in response to European trade practices. The region may send many goods to the United States, but it is also a major purchaser of U.S. services, particularly in technology. "People will still buy German cars," said Andreas Kramski, chief executive of a family business that makes billions of parts annually for auto manufacturers worldwide. "It wouldn't be very patriotic for an American to say, but it's a matter of fact: German cars are just better."Luisa Beck in Berlin contributed to this report.

Brexit news: EU lights bomb under car industry as Dutch say not to use UK parts

A leading car industry executive said not using UK parts for EU exports would be a catastropheThe Dutch government has advised all Dutch businesses that if a "large part of your product consists of parts from the UK" domestic exporters may lose free trade access under existing deals. "After Brexit, parts made in the UK no longer count towards this minimum production in the European Union." AdvertisementAdvertisementA leading car industry executive said not using UK parts for EU exports would be a catastrophe for the British industry. They said: "The hard Brexiteers have built a bomb under the UK automotive industry and the EU have lit it." In order to qualify for EU free trade deals, a certain portion of a product's parts needs to come from the EU. UK inputs are considered 'non-originating'." According to Sky news, major UK automotive suppliers are now ceasing UK supply of major components to cars for exports to countries covered by the EU Free Trade Areas.