The following statement has been issued by Aston Martin in regards to the current climate of uncertainty surrounding Brexit and the British automotive industry. This comes only days after Ralf Speth of JLR issued a statement requesting clarity regarding the economic issues surrounding Brexit. The statement from Aston Martin reads: As an industry that makes long-term investment and employment decisions, the Automotive sector needs clarity and certainty across the planning landscape. Over the past few months this clarity has been lacking, but today we are greatly encouraged to see the Prime Minister and her Cabinet come to a consensus on the UK’s future trading relationship with the EU, which addresses both the concerns of industry, whilst respecting the result of the EU Referendum. As a global company, Aston Martin Lagonda naturally advocates a free trade environment and as such, we […]
Prof. Dr. Ralf Speth, Chief Executive Officer of Jaguar Land Rover Automotive plc, Britain’s largest vehicle manufacturer, has called on the UK Government to urgently provide post-Brexit certainty for business including guaranteed tariff-free access and frictionless trade with the European Union. Ahead of the publication of a White Paper outlining the Government’s proposed post-Brexit trading relationship with the EU, Dr. Speth said: Jaguar Land Rover’s heart and soul is in the UK. However we, and our partners in the supply chain, face an unpredictable future if the Brexit negotiations do not maintain free and frictionless trade with the EU and unrestricted access to the single market. We urgently need greater certainty to continue to invest heavily in the UK and safeguard our suppliers, customers and 40,000 British-based employees. A bad Brexit deal would cost Jaguar Land Rover more than £1.2bn […]
Reuters is reporting that British car production fell 4.1 percent in September from the same month a year earlier, the fifth decline in six months that adds to signs of faltering consumer and business confidence. Exports, accounting for 80 percent of total output, fell 1.1 percent, while domestic demand slumped 14.2 percent, according to figures from the Society of Motor Manufacturers and Traders (SMMT), pushing total production down to 153,224 cars.
Jaguar Land Rover, Britain’s biggest automaker, will hire 5,000 staff as it boosts its skills in autonomous and electric technology, a welcome business endorsement as Prime Minister Theresa May starts Brexit talks after an election with unexpected results. Jaguar Land Rover, which employs more than 40,000 people globally, said it would hire 1,000 electronic and software engineers as well as 4,000 additional personnel including in manufacturing, most of whom will be based in Britain.
Building in Britain is not essential to BMW’s Mini brand as most customers do not know where the compact cars are built and its new electric model could be made elsewhere, the brand’s boss told Reuters on Tuesday. Peter Schwarzenbauer said the German carmaker would decide by the end of 2017 whether to build the new electric model at an existing site in Britain or the Netherlands, or whether to pick a new location.
According to the Guardian, the British car industry has warned of a sales downturn this year as the economic uncertainty that followed the Brexit vote kicks in. A fifth consecutive year of growth saw nearly 2.7m new car registrations in the UK last year, a rise of 2.2% on 2015. But the Society of Motor Manufacturers and Traders said it expected growth to reverse, with a sales decline of 5-6%, as the cost of new cars rises due to sterling’s fall. An end to cheap financing deals would also hit sales, it said. But Mike Hawes, the SMMT’s chief executive, said the domestic market remained comparatively strong. “This is historically an incredibly high level. We’re not talking about a collapse,” he said, adding that the market had been more resilient than expected after the EU referendum. But, he said: “Clearly, […]