Supply Chain Management / Leadership Skills

The U.K. votes for Brexit, and it will impact automakers

By AutoBlog

Jun 24, 2016

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It's the first morning after the United Kingdom voted for what's become known as Brexit – that is, to leave the European Union and its tariff-free internal market. Now begins a two-year process in which the UK will have to negotiate with the rest of the EU trading bloc, which is its largest export market, about many things. One of them may be tariffs, and that could severely impact any automaker that builds cars in the UK.

Tariffs could damage the profits of automakers that build cars in the UK and perhaps cause them to shift manufacturing out of the UK, significantly damaging the country's resurgent manufacturing industry.

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