EU EXIT IMPACT
The classic motor industry and Brexit…
A panel of experts from the RAC, FBHVC, HERO-ERA and CEBR has concluded – post Brexit – that historic vehicles temporarily imported for repair or renovation will not attract any customs duty when being imported/ exported.
Additionally, although the movement of historic or classic vehicles across EU borders, either individually or as part of an organised event such as a rally, will continue, the panel noted that any stays longer than 90 days in any 180-day period would require a visa.
Also, motor insurance policies will no longer automatically cover driving in the European Union. The latest data suggests that 11.3 per cent of jobs in the UK motor industry are created in the historic and classic sector, prompting Tomas de Vargas Machuca, Chairman of HERO-ERA, to say: ‘It is therefore important that when the details are tied up, this sector is not impeded by the Brexit arrangements.’ There are anecdotal stories of a small number of classic parts supply companies deciding not to export parts to the UK after Brexit, these are yet to be confirmed.