BREXIT 1/4: What would happen if Britain left the EU?
- In 2015, Britain produced 1.66 million vehicles (PC + LCV) of which almost 50% were exported to the EU.
- The domestic market accounted for 3.0 million vehicles of which 80% came from the EU.
- The flow between Britain and Europe is therefore:
- 2 400 000 vehicles imported into Britain from the EU, i.e. 13% of EU production.
- 800 000 vehicles exported from Britain to the EU (around 50% of UK production).
- The exit of Britain from the EU (BREXIT), could have a strong impact on the overall economy of the country but also on the automotive industry:
- Production plants located in the United Kingdom which export mainly to the EU
- On the overall internal market which mainly imports vehicles from the EU and therefore on European production.
- If Britain was to leave the EU, various factors are to be taken into account and may have a positive or negative impact for either of the players. Among these factors we can include:
- The return of customs barriers and taxes on imports and export either in the EU or in Britain
- The devaluation or valuation of the exchange rate of the pound and the euro.
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