Brexit and the effects it will have on the motor industry

Many industries warn that Brexit is the ‘biggest threat in a generation’ to the UK’s car industry and other industries alike.

Since the Leavers triumphed and Brexit was confirmed, investments promised by Motor Manufacturers have significantly decreased from the £2.5bn pledged in 2015, to £1.2bn in the 9 months following the referendum.

However, until the EU and the UK come to an agreement, it is difficult to establish what the outcome will be for the motor trade, and for those who work in the sector.

Who needs a deal most – the UK or the EU?

Nissan has pledged to make new car models in the UK, defying post-Brexit fears. They plan to build the next models of Qashqai and X-Trail at their Sunderland factory, safeguarding more than 7,000 jobs. However, German politicians seem determined to put Europe’s interests first, before carmakers’ commercial benefits…

Until the negotiations are underway, it isn’t clear how the industry will be affected. However, with the motor industry being an important part of the British economy, the Government will have to work hard to defend the UK’s flourishing motor industry.

See below infographic. Click the image to view full size.

An inforgraphic showing Motor Trade Investments Brexit and Production - image courtesy of Plan Insurance Brokers.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

An info graphic on UK Motor Trade Investments and the impact of Brexit and Production – image courtesy of Plan Insurance Brokers.