German car industry warns UK that 'hard Brexit' could trigger shift south

German car industry warns UK that 'hard Brexit' could trigger shift south
 

Parts of Britain's car industry could move to southeast Europe if the country loses access to the single market in its divorce negotiations with the European Union, the president of Germany's VDA auto industry association said.
British Prime Minister Theresa May has set a March deadline to begin the formal process to quit the EU and carmakers are concerned that Britain is heading towards a "hard Brexit", which would leave it outside the European single market and facing tariffs of up to 10 percent on car exports.
"If there's a 'hard Brexit' then we will see a shift to central... read more

 
17 October 2016 in Business, Views: 31
Source: Reuters
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