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Brexit threat to our cars.

On 24 Apr 2017 at 11:36pm Ford Door Hatchback wrote:

TARIFF NIGHTMARE Brexit could see the cost of British-made cars rise by THOUSANDS� and put 169,000 jobs at risk
New research has shown that trade negotiations post-Brexit could make owning a car unaffordable for a number of Brits
Fears are already spreading that the automotive sector could be one of the worst hit by potential post-Brexit trade restrictions, with 80 per cent of all parts used in British car manufacturing sourced from overseas.
If negotiations between Europe and Britain fail to reach a trade agreement by 2019, the UK motoring industry, along with countless others, will be forced to operate under World Trade Organisation tariffs of up to 10 per cent on all imports and exports.
According to online car servicing provider Servicing Stop, if ten per cent trade tariffs are imposed, the price of every car sold in the UK could rise by as much as �2,370, and in turn inflate the price of parts and servicing astronomically.
�Of the �15 billion worth of components in British cars, only �3 billion are produced in this country,� Servicing Stop CEO, Oly Richmond, said.
�This means 80 per cent of parts are currently imported which, without free trade, will put an end to cheap services and affordable repairs.�