Discussion:
UK car industry facing an 'utterly demoralising' Brexit
(too old to reply)
MM
2017-08-05 08:52:23 UTC
Permalink
Raw Message
"Leaving the EU will reverse the progress made in past decades and may
wipe out small suppliers, says Britain’s motor society

"As the latest car figures show that uncertainty over Brexit is
helping to drag down sales, motor manufacturers fear the industry’s
revival over the past couple of decades could be put at risk by
Britain’s departure from the European Union.

"Mike Hawes, chief executive of the Society of Motor Manufacturers and
Traders (SMMT), said: 'A lot of people have spent the best part of
decades turning round the industry, when you think back to how it was
characterised in the 70s, 80s and into the 90s. It is very different
now. It has had very difficult times and it is a cyclical industry,
and there is a fear that that success could be put at jeopardy.'"

"Before the referendum a survey of the SMMT’s 700 members, which
include manufacturers such as Jaguar Land Rover, Nissan and Toyota as
well as small and medium sized supply chain companies, found that 80%
wanted Britain to stay in the EU, with only 10% backing leave. Hawes
said the vote was 'a shock to everybody,' and now 'people have gone
beyond bewilderment' to try and work out what the potential impact
will be."

"While impossible to quantify precisely, Hawes said the cost must be
multi-millions of pounds already, including for consultants advising
on Brexit implications. This work is almost entirely negative, he
said, because it involves looking at future possibilities all
considered worse than the frictionless relationship the industry
currently has with the EU.

"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 impact is always going to be more gradual, and you are seeing
that now: prices going up, demand is softening, investment decisions
are on hold.'"

"Hawes said he does not believe people have understood that Britain’s
free trade deals with 57 other countries through the EU’s current
agreements will also fall away after Brexit. And he found particularly
frustrating the 'misguided' view expressed by some prominent leave
campaigners that the German car industry would press chancellor Angela
Merkel to give the UK a good EU deal, because they export in
significant numbers to Britain.

" 'We consistently said do not expect that. 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. It is frustrating and it
also reveals a lack of understanding of the way markets operate.'"
https://www.theguardian.com/business/2017/aug/04/uk-car-industry-facing-an-utterly-demoralising-brexit

Will the bad news about Brexit EVER cease?

Not until the government throws in the towel and declares we are not
leaving after all.

Could happen...

MM

---
This email has been checked for viruses by AVG.
http://www.avg.com
tim...
2017-08-05 10:05:56 UTC
Permalink
Raw Message
Post by MM
"Leaving the EU will reverse the progress made in past decades and may
wipe out small suppliers, says Britain's motor society
"As the latest car figures show that uncertainty over Brexit is
helping to drag down sales,
car sales are down because the banks have realised that they have been
over-lending on this item and are reigning in on the money that they
allocate to it

but let's blame it on Brexit, the easy target

tim
Norman Wells
2017-08-05 10:43:00 UTC
Permalink
Raw Message
Post by tim...
Post by MM
"Leaving the EU will reverse the progress made in past decades and may
wipe out small suppliers, says Britain's motor society
"As the latest car figures show that uncertainty over Brexit is
helping to drag down sales,
car sales are down because the banks have realised that they have been
over-lending on this item and are reigning in on the money that they
allocate to it
but let's blame it on Brexit, the easy target
Everthing's Brexit's fault. Even MM's outpourings here.
R. Mark Clayton
2017-08-05 11:20:00 UTC
Permalink
Raw Message
Post by tim...
Post by MM
"Leaving the EU will reverse the progress made in past decades and may
wipe out small suppliers, says Britain's motor society
"As the latest car figures show that uncertainty over Brexit is
helping to drag down sales,
car sales are down because the banks have realised that they have been
over-lending on this item and are reigning in on the money that they
allocate to it
The BoE has, the banks haven't and are still lending furiously, now on the ex lease cars coming back (holding their prices up).

It will unwind and I will be looking for a luxury car with a BIG discount in October / November.
Post by tim...
but let's blame it on Brexit, the easy target
Brexit will hit car exports in the longer term and lead to a reduction in investment now.
https://www.bloomberg.com/news/articles/2017-08-04/boe-says-companies-need-clarity-as-brexit-crimps-investment
Post by tim...
tim
Handsome Jack
2017-08-05 17:02:33 UTC
Permalink
Raw Message
Post by R. Mark Clayton
Brexit will hit car exports in the longer term and lead to a reduction in investment now.
https://www.bloomberg.com/news/articles/2017-08-04/boe-says-companies-ne
ed-clarity-as-brexit-crimps-investment
Utter balls. That article doesn't say anything of the kind.

What the BoE man *does* say is that UK car exports are booming, and
manufacturers ought to be increasing their plant investment faster than
they are doing. That's the exact *opposite* of what you said. But you
just *had* to interpret it in a negative light, didn't you?
--
Jack
Fredxxx
2017-08-05 18:50:49 UTC
Permalink
Raw Message
Post by Handsome Jack
Post by R. Mark Clayton
Brexit will hit car exports in the longer term and lead to a reduction in investment now.
https://www.bloomberg.com/news/articles/2017-08-04/boe-says-companies-ne
ed-clarity-as-brexit-crimps-investment
Utter balls. That article doesn't say anything of the kind.
What the BoE man *does* say is that UK car exports are booming, and
manufacturers ought to be increasing their plant investment faster than
they are doing. That's the exact *opposite* of what you said. But you
just *had* to interpret it in a negative light, didn't you?
Now why would Mr Clayton want to do that?

Sometimes he is his worst enemy when he feels obliged to further the
lies MM pedals.
Handsome Jack
2017-08-05 17:05:41 UTC
Permalink
Raw Message
Post by tim...
Post by MM
"Leaving the EU will reverse the progress made in past decades and may
wipe out small suppliers, says Britain's motor society
"As the latest car figures show that uncertainty over Brexit is
helping to drag down sales,
car sales are down because the banks have realised that they have been
over-lending on this item and are reigning in on the money that they
allocate to it
And, of course, the diesel fiasco. A lot of people who might have bought
a new diesel car this summer will be having second thoughts, after all
the signals that have been put out by government about raised road taxes
and city centre charges.
--
Jack
Norman Wells
2017-08-05 10:41:52 UTC
Permalink
Raw Message
Post by MM
"Leaving the EU will reverse the progress made in past decades and may
wipe out small suppliers, says Britain’s motor society
may
Post by MM
"As the latest car figures show that uncertainty over Brexit is
helping to drag down sales, motor manufacturers fear the industry’s
revival over the past couple of decades could be put at risk by
Britain’s departure from the European Union.
fear ... could
Post by MM
"Mike Hawes, chief executive of the Society of Motor Manufacturers and
Traders (SMMT), said: 'A lot of people have spent the best part of
decades turning round the industry, when you think back to how it was
characterised in the 70s, 80s and into the 90s. It is very different
now. It has had very difficult times and it is a cyclical industry,
and there is a fear that that success could be put at jeopardy.'"
fear ... could
Post by MM
"Before the referendum a survey of the SMMT’s 700 members, which
include manufacturers such as Jaguar Land Rover, Nissan and Toyota as
well as small and medium sized supply chain companies, found that 80%
wanted Britain to stay in the EU, with only 10% backing leave. Hawes
said the vote was 'a shock to everybody,' and now 'people have gone
beyond bewilderment' to try and work out what the potential impact
will be."
potential
Post by MM
"While impossible to quantify precisely, Hawes said the cost must be
multi-millions of pounds already, including for consultants advising
on Brexit implications. This work is almost entirely negative, he
said, because it involves looking at future possibilities all
considered worse than the frictionless relationship the industry
currently has with the EU.
impossible to quantify ... must be ... possibilities ... considered
Post by MM
"And even though the effects of Brexit might not be immediate, that
did not mean they could be shrugged off.
might not be immediate
Post by MM
" 'We always said there will not be an immediate closure of plants
because the investments are fixed for many companies,' Hawes said.
'The impact is always going to be more gradual, and you are seeing
that now: prices going up, demand is softening, investment decisions
are on hold.'"
"Hawes said he does not believe people have understood that Britain’s
free trade deals with 57 other countries through the EU’s current
agreements will also fall away after Brexit. And he found particularly
frustrating the 'misguided' view expressed by some prominent leave
campaigners that the German car industry would press chancellor Angela
Merkel to give the UK a good EU deal, because they export in
significant numbers to Britain.
believe ... view ... some
Post by MM
" 'We consistently said do not expect that. 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. It is frustrating and it
also reveals a lack of understanding of the way markets operate.'"
https://www.theguardian.com/business/2017/aug/04/uk-car-industry-facing-an-utterly-demoralising-brexit
Will the bad news about Brexit EVER cease?
There's no bad news of any substance there. It's opinion based on fear,
doom and gloom, with no evidence at all to back it up.
Post by MM
Not until the government throws in the towel and declares we are not
leaving after all.
Could happen...
Sweet dreams.
pullgees
2017-08-05 12:50:12 UTC
Permalink
Raw Message
Post by MM
"Leaving the EU will reverse the progress made in past decades and may
wipe out small suppliers, says Britain’s motor society
"As the latest car figures show that uncertainty over Brexit is
helping to drag down sales, motor manufacturers fear the industry’s
revival over the past couple of decades could be put at risk by
Britain’s departure from the European Union.
"Mike Hawes, chief executive of the Society of Motor Manufacturers and
Traders (SMMT), said: 'A lot of people have spent the best part of
decades turning round the industry, when you think back to how it was
characterised in the 70s, 80s and into the 90s. It is very different
now. It has had very difficult times and it is a cyclical industry,
and there is a fear that that success could be put at jeopardy.'"
"Before the referendum a survey of the SMMT’s 700 members, which
include manufacturers such as Jaguar Land Rover, Nissan and Toyota as
well as small and medium sized supply chain companies, found that 80%
wanted Britain to stay in the EU, with only 10% backing leave. Hawes
said the vote was 'a shock to everybody,' and now 'people have gone
beyond bewilderment' to try and work out what the potential impact
will be."
"While impossible to quantify precisely, Hawes said the cost must be
multi-millions of pounds already, including for consultants advising
on Brexit implications. This work is almost entirely negative, he
said, because it involves looking at future possibilities all
considered worse than the frictionless relationship the industry
currently has with the EU.
"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 impact is always going to be more gradual, and you are seeing
that now: prices going up, demand is softening, investment decisions
are on hold.'"
"Hawes said he does not believe people have understood that Britain’s
free trade deals with 57 other countries through the EU’s current
agreements will also fall away after Brexit. And he found particularly
frustrating the 'misguided' view expressed by some prominent leave
campaigners that the German car industry would press chancellor Angela
Merkel to give the UK a good EU deal, because they export in
significant numbers to Britain.
" 'We consistently said do not expect that. 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. It is frustrating and it
also reveals a lack of understanding of the way markets operate.'"
https://www.theguardian.com/business/2017/aug/04/uk-car-industry-facing-an-utterly-demoralising-brexit
Will the bad news about Brexit EVER cease?
Not until the government throws in the towel and declares we are not
leaving after all.
Could happen...
MM
---
This email has been checked for viruses by AVG.
http://www.avg.com
To many buyers defaulting on their loans and now we are heading for another sub prime debacle, but you wouldn't expect the SMMT to own up to that, just blame it on Brexit.
R. Mark Clayton
2017-08-07 19:10:58 UTC
Permalink
Raw Message
Post by pullgees
Post by MM
"Leaving the EU will reverse the progress made in past decades and may
wipe out small suppliers, says Britain’s motor society
"As the latest car figures show that uncertainty over Brexit is
helping to drag down sales, motor manufacturers fear the industry’s
revival over the past couple of decades could be put at risk by
Britain’s departure from the European Union.
"Mike Hawes, chief executive of the Society of Motor Manufacturers and
Traders (SMMT), said: 'A lot of people have spent the best part of
decades turning round the industry, when you think back to how it was
characterised in the 70s, 80s and into the 90s. It is very different
now. It has had very difficult times and it is a cyclical industry,
and there is a fear that that success could be put at jeopardy.'"
"Before the referendum a survey of the SMMT’s 700 members, which
include manufacturers such as Jaguar Land Rover, Nissan and Toyota as
well as small and medium sized supply chain companies, found that 80%
wanted Britain to stay in the EU, with only 10% backing leave. Hawes
said the vote was 'a shock to everybody,' and now 'people have gone
beyond bewilderment' to try and work out what the potential impact
will be."
"While impossible to quantify precisely, Hawes said the cost must be
multi-millions of pounds already, including for consultants advising
on Brexit implications. This work is almost entirely negative, he
said, because it involves looking at future possibilities all
considered worse than the frictionless relationship the industry
currently has with the EU.
"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 impact is always going to be more gradual, and you are seeing
that now: prices going up, demand is softening, investment decisions
are on hold.'"
"Hawes said he does not believe people have understood that Britain’s
free trade deals with 57 other countries through the EU’s current
agreements will also fall away after Brexit. And he found particularly
frustrating the 'misguided' view expressed by some prominent leave
campaigners that the German car industry would press chancellor Angela
Merkel to give the UK a good EU deal, because they export in
significant numbers to Britain.
" 'We consistently said do not expect that. 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. It is frustrating and it
also reveals a lack of understanding of the way markets operate.'"
https://www.theguardian.com/business/2017/aug/04/uk-car-industry-facing-an-utterly-demoralising-brexit
Will the bad news about Brexit EVER cease?
Not until the government throws in the towel and declares we are not
leaving after all.
Could happen...
MM
---
This email has been checked for viruses by AVG.
http://www.avg.com
To many buyers defaulting on their loans and now we are heading for another sub prime debacle, but you wouldn't expect the SMMT to own up to that, just blame it on Brexit.
I am waiting till the autumn to pick up a bargain ex lease BMW 7 Series...
tim...
2017-08-08 07:58:25 UTC
Permalink
Raw Message
Post by R. Mark Clayton
Post by pullgees
To many buyers defaulting on their loans and now we are heading for
another sub prime debacle, but you wouldn't expect the SMMT to own up to
that, just blame it on Brexit.
I am waiting till the autumn to pick up a bargain ex lease BMW 7 Series...
So

OT1H you are looking to benefit from the downturn in sales cause by
(expected) reduced second hand values

and yet

OTOH

you deny that that factor caused the downturn in new sales, because you'd
prefer to place that blame on Brexit

ITYF that's called being a hypocrite

tim
R. Mark Clayton
2017-08-08 10:01:05 UTC
Permalink
Raw Message
Post by tim...
Post by R. Mark Clayton
Post by pullgees
To many buyers defaulting on their loans and now we are heading for
another sub prime debacle, but you wouldn't expect the SMMT to own up to
that, just blame it on Brexit.
I am waiting till the autumn to pick up a bargain ex lease BMW 7 Series...
So
OT1H you are looking to benefit from the downturn in sales cause by
(expected) reduced second hand values
By restriction of credit mainly.
Post by tim...
and yet
OTOH
you deny that that factor caused the downturn in new sales, because you'd
prefer to place that blame on Brexit
Brexit is another factor. Brexit is unlikely to greatly affect the second hand value of used cars already in the country, they could only realistically be exported to Ireland, Cyprus and Malta. So whilst the fall in the pound will push up new prices, lack of credit will depress second hand prices.
Post by tim...
ITYF that's called being a hypocrite
No that's you being silly.
Post by tim...
tim
Loading...