UK and EU car makers warn of No Deal disaster

Car makers across UK and EU urging politicians to secure Brexit trade deal to avoid ‘catastrophic’ losses

Car makers across the UK and the EU are urging politicians to secure a Brexit trade deal to avoid ‘catastrophic’ losses. 

Tariffs would threaten the production of 3m EU- and UK-built cars and vans over the next five years. 

This would mean losses of up to £84billion for the European automotive sector, and threaten thousands of jobs. 

Warning: Tariffs would threaten the production of 3m EU- and UK-built cars and vans over the next five years

Speaking for the whole industry, Mike Hawes, of the UK’s Society of Motor Manufacturers and Traders, said: ‘These figures paint a bleak picture of the devastation that would follow a No Deal. 

‘The shock of tariffs and other trade barriers would compound the damage already dealt by a global pandemic and recession, putting businesses at risk.’

Read more at DailyMail.co.uk