Fallout from hard Brexit could drive up cost of cars by £2,300

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Robert Wright has reported on the findings of a new study, carried out by PA Consulting, which concludes that the imposition of post-Brexit tariffs on cross border trade between Britain and countries remaining in the EU could result in an increase of as much as 10% in the price of new cars. Last year, more than 57% of new cars sold in the UK were imported from the EU. The report also carries a warning that the costs involved in exporting British-made cars to the EU could render the cost of maintaining production plants in the UK unaffordable, and result in the transfer of production to mainland Europe. Britain’s automotive industry is worth almost £72bn and supports around 800,000 jobs.

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