Car industry on ‘cliff-edge over tariffs’
THE UK car industry would be in “peril” without a longer Brexit trade deal, the Government has been warned.
The Society of Motor Manufacturers called for ministers to secure a fiveyear extension to keep the UK in the single market and the customs union.
Without it, car makers face a “cliff-edge” in March 2019 with new tariffs applied.
Mike Hawes, SMMT chief executive, said: “To leave in 2019 without a deal would put the industry in peril. It will take time to overcome.”
SMMT claims reverting to World Trade Organisation tariffs would push the cost of the average car up by £1,500. The UK car industry employs 169,000 people directly.