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Toyota Warns Of Price Rises After No-Deal Brexit

Toyota Warns Of Price Rises After No-Deal Brexit

Autoandprice.com – President Toyota has joined the choir industry leaders warning about the bad impact of a potential no EU transaction.

On a publication published on the website of the Japanese Automobile Manufacturers Association, TOYOTA President Akio Toyoda said that the non-EU case should be avoided “at all costs “.

“There is a need to maintain an undisturbed trading environment between the United Kingdom and the European Union and to ensure that the automotive industry continues to be based on common standards, including regulatory certification Vehicles “. Toyoda wrote.

The UK and the EU must work out a deal within a few months.

Toyoda said that the changes between trade with the UK and the European Union would be particularly bad for Japanese car manufacturers, citing issues such as failed logistical operations, declining revenues and changing prices for Vehicles that will result from higher logistical and production costs.

Japanese automakers currently operate 14 manufacturing plants and 17 research and development centers in the European Union, last year building 1 500 000 cars and using 170 000 people.

Toyota has previously stated that a non-EU transaction may temporarily halt production at its production facility in Burnasta, Mr. “. Last year, almost 150 000 cars were built at the plant, 90% of which were exported to the EU. It also employs 2500 people.

Last week the boss of Ford Europe expressed similar fears about what could happen if a deal with the European Union could not be reached with the EU until March 29 2019. According to Stephen Armstrong, the car companies will be forced to “Think about what our future investment strategies for the UK ” would look like if the deal could not be reached.

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