Brexit has hit the British car industry
The jump in energy prices and new EU regulations after Brexit hit the main article of British exports - cars. Representatives of the automotive industry are worried that their competitiveness will decrease, writes The Guardian.
According to the British Society of Automobile Manufacturers and Sellers, 9 out of 10 companies faced an increase in time and resource costs after leaving the European Union, with 60 percent of firms reporting that the additional costs of trading with the bloc are "much more significant than in other export destinations."
"The costs of complying with the new rules have made the UK potentially less competitive compared to some of our European counterparts," warned SMMT chief executive Mike Hawes, adding that the first few months after Brexit were incredibly difficult. The head of the trade group stated the need to reduce costs in order to remain competitive.
Despite these problems, the European Union remains the main trading partner of the United Kingdom, since about half of all cars produced are sent to EU countries, while almost all exported vans end up on European roads. The sale of cars brought the UK a total of 74 billion pounds.
Brexit and coronavirus, in general, have reduced the volume of British exports to continental Europe. Thus, food supplies in 2021 fell by two billion pounds.
TAGS: BRITAIN, ECONOMY, BREXIT, UK NEWS
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