The cost of assembling a car in Britain could increase by £2,370 in the event of a “hard Brexit”, forcing some manufacturers to look at moving production out of the country, a report has found. The costs have been calculated by PA Consulting Group as part of research into the impact of Brexit on the automotive industry. However, in contrast, car manufacturers with no British operations at present could look to move some production to the country to avoid the costs of tariffs. The PA Consulting report identifies three possible scenarios for carmakers and car parts makers if trade restrictions, even partial ones, are enforced. “Some may consider investment options into the UK, but equally some may consider investing into the EU.”

Source: The Guardian March 20, 2017 18:22 UTC