While impossible to quantify precisely, Hawes said the cost must be multi-millions of pounds already, including for consultants advising on Brexit implications. And even though the effects of Brexit might not be immediate, that did not mean they could be shrugged off. “We always said there will not be an immediate closure of plants because the investments are fixed for many companies,” Hawes said. The European market and to a certain extent the European project is more important to them than the UK, so they want to safeguard the four freedoms which benefit them. If any sector has really benefitted from growth and development across Europe, it’s the German car industry.

Source: The Guardian August 04, 2017 16:01 UTC