Mexican Media Brands
Honda to Suspend Output in U.K. for 6 Days after Brexit
Honda Motor Co. is the latest carmaker to announce plans to halt production in the U.K. immediately after Britain leaves the European Union at the end of March.
#economics #labor
Share
Honda Motor Co. is the latest carmaker to announce plans to halt production in the U.K. immediately after Britain leaves the European Union at the end of March.
The six-day suspension will enable the company to stockpile imported parts for its Swindon plant in England to offset an expected disruption in its normal supply chain when the current duty- and friction-free trade agreement with the EU ends.
Carmakers are bracing for a “hard” Brexit, which would introduce tariffs as great at 10% and impose customs inspections that are likely to create short-term disruptions to their usual just-in-time supply system.
BMW, Jaguar Land Rover, Mini, Nissan and Toyota all have warned of temporary shutdown or eventual plant closures if the continuing cost of importing components to their British factories rises significantly because of Brexit.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.