Car industry in Britain warned the next prime minister against a no-deal Brexit in October, which it said could add billions of pounds in tariffs and cause border disruption, crippling the sector. Boris Johnson, the frontrunner to succeed Theresa May, and his rival Jeremy Hunt, have said they are prepared to take Britain out of the EU without a deal on Oct. 31, although it is not their preferred option.
“Leaving the EU without a deal would trigger the most seismic shift in trading conditions ever experienced by automotive, with billions of pounds of tariffs threatening to impact consumer choice and affordability,” industry body, the Society of Motor Manufacturers and Traders (SMMT) warned. The industry fears that a disorderly exit from the EU, its biggest export market, could see the imposition of tariffs of up to 10% on finished models and border delays which could snarl up ports and motorways, ruining just-in-time production.
