Car industry is latest trade group to issue warning, saying WTO tariffs and customs checks will ramp up maintenance costsBritish motorists face a 10% rise in the cost of their annual car service and repair bills if the UK leaves the EU without a trade deal, an industry body has warned. The prediction comes after warnings from various industries about the impact on their sectors of a hard Brexit. However, the Guardian reported in February that leaving the EU without a trade deal would saddle British exporters with more than £6bn a year in new tariffs. The SMMT said: “Some 80% of replacement car parts fitted to British cars are imported, with almost three-quarters of these coming from EU-based suppliers. It would mark a significant retreat from the hard Brexit she would have pursued had she won a majority in the June election.

Source: The Guardian July 30, 2017 22:52 UTC