The Mudcat Café TM
Thread #165570 Message #3977796
Posted By: Iains
19-Feb-19 - 12:23 PM
Thread Name: BS: Brexit #3: A futile gesture?
Subject: RE: BS: Brexit #3: A futile gesture?
In a statement on Tuesday, Honda said it would close the factory west of London as part of global restructuring of its manufacturing network to prepare for the age of electric vehicles.
The closure of Honda’s sole manufacturing site in Europe is expected to lead to the loss of 3,500 British jobs and deals a massive blow to the UK’s car industry as the country prepares to leave the EU.
The company also said it would close its factory in Turkey, where it employs 1,100 people and produces about 50,000 cars a year, of which 20 per cent are exported to Europe.
Analysts say the Swindon closure is long overdue. Honda had been scaling back its struggling UK operation for years and its market share in Europe remains tiny.
the new EU-Japan trade deal and declining market conditions in Europe likely affected the decision by Japan’s third-largest carmaker.
and of course the remainiacs carefully overlook the following:
The negotiations of the EU-Japan free trade agreement are now in the advanced stages. The latest statistics show that Japan is the fifth most important destination for European passenger cars and ranks second among countries exporting cars to the EU.Nearly 575,000 Japanese cars with a total value of €9 billion were imported into the EU in 2016. A trade pact that will remove EU tariffs of 10 percent on Japanese cars and 3 percent on most car parts is in the offing. Cheaper to now produce in Japan and export.
Awkward things facts! Now what was that about brexit?