UK automotive industry update
An update on the UK automotive industry post-Brexit, which we discussed a few months ago in the article here...
In short, Nissan is to make a decision next month on its future UK operations and investments. This follows the meetings this week with the UK government, from which some vague assurances about compensation for potential trade tariffs post-Brexit have emerged.
The decision taken by Nissan next month will have large ramifications for the UK’s automotive industry, given that the company currently produces around 30% of cars in the country.
But while we await the decision, the articles throw up a couple of immediate questions.
Firstly, is any compensation to Nissan even possible? Any reimbursement of imposed tariffs would almost certainly end up in front of the WTO.
Secondly, how long until we hear other UK-based car manufacturers demand compensation as well?