Could Brexit bury the UK Automotive Industry?

bentleyThe world’s car industry is seemingly always under fire from one thing or another, unstable nations, wars, technology, environmental issues, you name it. The most recent threat to the UK Automotive Industry is of course Brexit. Currently, the market is worth £82 billion and accounts for a
huge percentage of UK export revenue. We are now at a point of uncertainty on negotiations with Europe over the best deal for both parties but it could end up with tariffs becoming unworkable for many manufacturers and part suppliers.

But is it all bad news?

If a hard Brexit does happen, perhaps there could be light at the end of the tunnel. Could UK based manufacturers be forced to look inward for parts supply? McLaren recently moved a good percentage of its production from Austria to Yorkshire so perhaps more could follow suit and bolster the UK economy that way instead.

Much will hinge on the final agreement but one thing is for sure, there will be many more ups and downs over the coming months and years.