- Has Brexit uncertainty pushed the UK to the brink?
- Is economic sustainability being undermined for the sake of political expediency??
Bentley, one of the UK's legendary luxury car makers, will unveil its first all-electric concept car this week. Combine that with the news that a Chinese company is discussing a new lithium-ion battery. It will be able to recharge a sports car up to 80 percent in just four minutes. Can you imagine? What are the chances for Bentley?
About Brexit dates
Brexit is a popular term for those who think that the British will be forgotten if the country leaves the European Union without a "deal". Of course, this is nonsense nonsense, it's just a trade agreement. Well, as of July 25, the UK will have a new prime minister who is likely to be significantly more optimistic than his failed predecessor.
So we still don't know if the UK will leave the EU on October 31st. This date is the last date. In other words, the situation is not becoming clearer. And if it's a small mess now, it will certainly last until a big mess.
Maybe not so bad
During this time there have been some changes in the minds of politicians. Many of the old political dinosaurs who were vehemently opposed to leaving the EU now think that "it might not be so bad." This also applies to automakers.
For example, Jaguar's planning manager stated that we could have an advantage over the competition if the UK imposed a duty on foreign cars. He said: “If a tariff situation arises, we will be at the forefront with our British-made vehicles such as the XE sedan. Tariffs will do their job, and our cars will be cheaper than competitors. Accordingly, Brexit will ensure British production.”
Maybe, but it's not so clear after all.
Jaguar Land Rover Group also confirmed that the company will invest hundreds of millions of pounds to build a range of electric vehicles at its Castle Bromwich plant in Birmingham, England. Initially, the plant will produce an electric version of its flagship XJ model. Will they invest if they think Brexit will be that bad economically? And this position was the company until now.
So, is Brexit the edge of the abyss or is it not?
Photo: Jaguar Land Rover.
British electric vehicle manufacturing is the next step in Jaguar Land Rover's electrification strategy. The company says the upcoming investment in their Castle Bromwich plant will save thousands of jobs. This sounds optimistic for the Queen, but she will have to support the imposition of duties. But what about the WTO then?
What is not so clear is the fact that the number of new car registrations in the UK has been declining for the fourth month in a row back in June. At the same time, annual demand fell by almost 5%. In addition to the constant confusion about low emission zones and diesel fuel. The EU and the UK have jointly launched key incentives for ultra-low emission cars. This led to a general decline in consumer confidence. Especially when it comes to hybrid vehicles. Moreover, earlier they were subjected to the stimulation of buyers by the government.
Diesel car sales continued to plummet. It also significantly increased the number of hybrids. This contributed to the recent downward trend in ICE products, down by 50%. Self-charging hybrids have also fallen in demand, albeit by a much smaller margin. Battery electric vehicle (EV) sales have been one of the few happy moments in the sluggish UK car market.