LONDON - The usual mix of sports cars, offroaders and family saloons will be on display at the Geneva motor show this week, but with one big difference from previous years - they may be about to become harder and costlier to make, and more expensive to buy.
And the situation has just got more complicated. Last week, British Prime Minister Theresa May raised the prospect of a short delay to Brexit, potentially disrupting the plans that carmakers have put in place to cope with a no-deal divorce. The stakes are high. Britain is Europe’s second-biggest buyer of cars and fourth biggest manufacturer, meaning disruption to supplies - and possible tariffs of up to 10 percent on vehicles moving between Britain and the European Union - will have repercussions across the industry.
Britain’s once booming car industry is already recording drops in sales, investment and output, with Japan’s Honda delivering the biggest blow so far by announcing plans to close its British factory.British supercar maker McLaren will display its Speedtail in Geneva, while fellow British luxury brand Bentley will show off the Bentayga Speed and Aston Martin its Lagonda all-terrain concept vehicle.But others are staying away from Europe’s top car show.
It fears delays and tariffs before the engines can be fitted into vehicles in Germany, Turkey, the United States and elsewhere. Ford said last month it would take “whatever action is necessary to preserve the competitiveness of our European business.”
Was Steve Bannon at the show?
Yeah because now we leaving the Europeans can’t afford new cars !
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Source: Reuters - 🏆 2. / 97 Read more »