German Carmakers Warning: Hard Brexit Would Be "Fatal"

[ThunderBlade + 231]

German carmakers on Wednesday warned of fatal consequences if Britain left the European Union without a divorce deal, predicting job losses in Britain and Europe and urging lawmakers to redouble efforts to ensure tariff-free trade can continue. Britain would suffer most if it lost free trade with European markets since 80 percent of vehicles assembled in the country are exported, mostly to the European Union. But for Germany the stakes are also high. In 2016, Britain was the largest single export market for German manufacturers, who sold 800,000 new cars there, or 20 percent of their overall global exports. Fewer cars are exported to China and U.S. because German carmakers have factories there. “The consequences of a ‘no deal’ would be fatal,” German auto industry association VDA said after the vote. “Without an orderly and practical solution for business, jobs in the car industry, particularly on the British side, are on the line.”

[pinto + 293]

BMW, Volkswagen, Daimler...  so, much money on the line

[Pavel + 384]

Fear of the unknown.

[damirUSBiH + 327]

EU taxes are so high what are they complaining about hard Brexit. The same medal, two sides...

[rainman + 263]

The Br(exit) is like a vicious circle: no exit

[ronwagn + 6,290]

5 hours ago, ThunderBlade said:

German carmakers on Wednesday warned of fatal consequences if Britain left the European Union without a divorce deal, predicting job losses in Britain and Europe and urging lawmakers to redouble efforts to ensure tariff-free trade can continue. Britain would suffer most if it lost free trade with European markets since 80 percent of vehicles assembled in the country are exported, mostly to the European Union. But for Germany the stakes are also high. In 2016, Britain was the largest single export market for German manufacturers, who sold 800,000 new cars there, or 20 percent of their overall global exports. Fewer cars are exported to China and U.S. because German carmakers have factories there. “The consequences of a ‘no deal’ would be fatal,” German auto industry association VDA said after the vote. “Without an orderly and practical solution for business, jobs in the car industry, particularly on the British side, are on the line.”

Britain can buy cars from anyone so that is an upside for them. If Germany wants to continue as usual it is within their power to do so. What is your concern ThunderBlade?

[Illurion + 894]

12 hours ago, ThunderBlade said:

German carmakers on Wednesday warned of fatal consequences if Britain left the European Union without a divorce deal, predicting job losses in Britain and Europe and urging lawmakers to redouble efforts to ensure tariff-free trade can continue. Britain would suffer most if it lost free trade with European markets since 80 percent of vehicles assembled in the country are exported, mostly to the European Union. But for Germany the stakes are also high. In 2016, Britain was the largest single export market for German manufacturers, who sold 800,000 new cars there, or 20 percent of their overall global exports. Fewer cars are exported to China and U.S. because German carmakers have factories there. “The consequences of a ‘no deal’ would be fatal,” German auto industry association VDA said after the vote. “Without an orderly and practical solution for business, jobs in the car industry, particularly on the British side, are on the line.”

The Brexit Deal that MAY agreed to would be very bad for England,   and as far as i am concerned,  far worse than what England would suffer from a hard-brexit,  as MAY's DEAL essentially prohibited good trade deals with the USA.

On the other hand,  a hard-brexit,  will cause short-term problems for England and the EU,  with the EU hurting worse,   whereas England would be open to freely creating trade deals with the USA that the EU would not have access to.

If there is a hard-brexit,  in the long run,  the EU will be hurt more than England in my opinion.

Only time will tell.

[shadowkin + 584]

On 1/16/2019 at 5:43 AM, ThunderBlade said:

“The consequences of a ‘no deal’ would be fatal,

Maybe for Germany. Germany is under the gun in more ways than one. The EV revolution is going to cause massive damage to Germany's car industry. The threats are from Tesla at the top end and soon, from China, at the low end.