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Brexit impact
The SMMT's Mr Hawes warned car prices were beginning to rise, with the fall in the value of the pound resulting from the Brexit vote having increased prices by 2-3%. More than 85% of new cars bought in the UK are imported.
Mr Hawes said the impact of Brexit on the car industry was, as yet, unclear.
He warned though that if the UK was unable to trade freely with the EU and tariffs were introduced, it would add about £1,500 to the price of each imported car.
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it would add about £1,500 to the price of each imported car.
and presumably a similar figure to the cost of an exported car from UK to EU - will EU buyers stil buy UK manufactured cars probably not if they can get a similar EU made car cheaper
the losers will be the UK - price increases for imports and job losses due to declining exports
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“The greatest enemy of knowledge is not ignorance; it is the illusion of knowledge”
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Donald Trump made unfair foreign trade a central theme in his campaign for the White House, singling out U.S. companies such as Ford Motor Co. for moving operations abroad.
Ford’s recent decision not to create a giant car plant in Mexico and remain in Michigan has everything to do with political promises by the president elect to reduce taxation. Particularly corporation tax.
Nissan recently received something similar when the trade secretary visited Japan and persuaded them to stay in Sunderland.
Trump and May are going to have to offer considerable financial incentives to business to remain in their respective countries post Brexit and post inauguration day.
If as expected the UK slashes corporation tax the EU will cry foul and impose reciprocal penalties on Britain. There are likely to be no winners in this dog fight.
Companies who relocate to the EU now have a degree of certainty going forward. In Britain everything is either in the dark or up in the air and likely to be so for many years.
If I were a CEO of a British located business the decision to move to Europe would be an easy one.
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Time is the school in which we learn
Time is the fire in which we burn.
Delmore Schwartz.
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Round and round it goes. on and on and on. The grim reapers in our midst. (Except some of them don't even live in the UK so why the hell do they care?)
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Tadd1966 please get you're fact's and figures right before you start quoting subjects ,currently it is cheaper to buy car and manufactured goods from the UK because of the very low exchange rates ,the only problems we are having in the UK is buying imported goods from the EU that are currently very expensive ,at the moment we are still in the single market and are forced to import from the EU ,but when the UK leaves the single overpriced market we will be able to do trade deal's outside the EU .the EU will loose billions and billions of potential exports from UK buyer's .
This message was last edited by windtalker on 05/01/2017.
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windtaker the figures i used were an example posted by perrypower1 as an EXAMPLE
How do you know how the exchange rates will affect post brexit - you don't
What trade deals will the UK get that currnetly do not exits?
The WTO rates will not change and the UK will get no big favours above any other country.
What country will give preferential / special rates to a small country like the UK that they won't give to anyone else????
There is also xchnag erates with no € countries
You can only buy from the Uk if these companies decide to remain in the UK - we will see soon enough
Prove your figures that the EU will lose billions?
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“The greatest enemy of knowledge is not ignorance; it is the illusion of knowledge”
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Tadd1966 the fact's are right in front of you ,goods are more expensive in the EU and the IMF puts that down to a grossly over valued euro ,currently you can still buy a new or second hand car in the UK cheaper than anywhere else in the EU I wonder why that is being that we are in a so called single unrestricted EU market .
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Tadd,
Our cars would probably be cheaper than pre referendum because of the weaker pound, and that's despite any tariffs involved. The opposite would be true if we wanted to buy an EU car. Looks good to me: More exports, less imports.
I did mention this some time ago.
This message was last edited by tenerife on 05/01/2017.
This message was last edited by tenerife on 05/01/2017.
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windtalker
second hand UK cars do not sell weel to export markets in eu
new cars cheaper in UK really - take a look
UK vauxhall webiste new Atsra from £15.9K
Spain Opel website new astra from 14.9K€
France Opel webiste new astra from 18K€
Germany opel website new astar form 17.1K€
Me thinks Spain and germany are cheaper than UK for a new astra and France about the same
tenerife
exports if the car manufacturers remain in UK - remember they rely on exports which is far bigger than the uK market
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“The greatest enemy of knowledge is not ignorance; it is the illusion of knowledge”
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I manage quiet WELL with out a CAR most people dont need a car NOWADAYS ,also they polute the ENVIROMENT children are a lot more UNHEALTHY mummy dropping them of at SCHOOL in there 4x4s when they live half a MILE AWAY we used to walk three miles to school in the WINTER in our SHORTS and Bobby Socks
CARS are evil GET RID the LESS the better
If you need a car BUY a car from the Japs or the Chinks they are reliable them Hyundais
Love Hugh xxx
This message was last edited by hughjardon on 05/01/2017.
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Done the Spain thing Happier in the UK
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The UK manufacturing industry is booming at the moment and according to the profit's of doom and gloom the UK will be in a terrible state of affairs if it left the EU, in the UK people are not jumping off buildings and cutting their throats with razors , that could not be further from the truth .The UK is currently forced to buy overpriced goods from the EU this is something that the UK will address as soon as we leave the EU we will be able to make our own trade deals with none EU member's .and that is going to cause big big problems for Brussels as we currently are forced to buy from the EU.
Tadd1966 try telling someone from the UK that new on the road , or second hand cars are cheep in Spain you must be joking.
This message was last edited by windtalker on 05/01/2017.
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Concerning the price of new cars here and anywhere else, one reason for the cheaper new cars abroad could well be the fact that all cars are basically designed in Left Hand Drive and are modified to be Right Hand Drive, hence the cost difference, and the low demand for Right Hand Drive cars.
Not forgetting the fact that the UK likes to rip people of over, it seems, every increase it can get away with.
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We haven't left yet so its's too early to reach for anything. Of course every action has a reaction. If the UK is no longer required to buy so called overpriced EU goods, the EU may no longer be required to buy so called overpriced UK goods. As the UK exports a lot more to the EU than the EU exports to the UK it will also be the EU that will start looking for new tariff free trading partners. Germany will demand this as by far the biggest exporter in Europe.
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Scollins
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windtalker
yes UK is doing well as it is STILL IN THE EU
once the UK leaves it wil be a different story and 2 years is a long time for any economy as I would guess nissan have worked that out
What trade deals and who with??????
Who forces anyone to buy from the EU or anyone else???
Yes for EU funded projects it is RECOMMENDED and maybe a PRIORITY to buy EU prodcust but it is NOT MANDATORY and NOBDOY is forced
Same in UK and just about any country across the globe.
Using your assumption then all EU member states wil be forced to buy EU and guess what that will NOT INCLUDE the UK. So all exports from the UK to EU will stop post brexit as all EU member states will NOT be allowed to buy from UK
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“The greatest enemy of knowledge is not ignorance; it is the illusion of knowledge”
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The main differences between left and right hand drive are the steering rack, dashboard and gearbox assembly. The holes in the body panels are a piece of cake!
Its not an issue to have or alter a production line for RHD.
If new cars are to cost more to import (1500 did someone say) and we are buying lots of cars (record new cars bought in the UK last year), I reckon someone will solve that problem and show the politicians what can be done.
Things like that are part of the negotiation process, yet to start. Don't underestimate necessity, it's the mother of .....
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Best wishes, Brian
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scollins,
I think you got the exports the wrong way round!
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Tadd1966 how are you going to manage when the UK has left the EU and a green shield stamp is worth more than Sterling ,if you don't have a answer maybe the UK can send a load of unused razor's over free of charge .
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So all exports from the UK to EU will stop post brexit as all EU member states will NOT be allowed to buy from UK
Tadd, how does that work out?
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windtalker
I have a plan in place
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“The greatest enemy of knowledge is not ignorance; it is the illusion of knowledge”
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It's the world according to Tadd. After all he is ex-patriotic.
I bet he speaks fluent Spanish and lives among the Spanish community now. Top man.
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Best wishes, Brian
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