AUTONEWS

United Kingdom exit from EU may cost $1bi to Ford
Ford, a North American manufacturer with a strong presence on the European continent, has its most important representations located in the United Kingdom, mostly, and in Germany. The possibility of Brexit happening without agreement will lead to important tax penalties that may make the production of vehicles in England uninteresting.
In the event of a chaotic exit, Ford estimates that the damage to the company could amount to $ 1 billion, or about $ 875 million, depending on the import duties imposed by the European Union. products from the United Kingdom. However, Ford chief financial officer Bob Shanks has already revealed that the company is preparing for that eventuality.
This preparation of which Ford speaks may take on a variety of contours, none of them good for England. This builder, like the rest, can follow one of two paths, the first requiring the English Government to compensate for the 10% it will have to pay to export to its main market, Europe. Plan B will immediately or in the future move the British manufacturing facilities to Union countries, resulting in further injury to the United Kingdom, thereby losing jobs and taxes resulting from the operation of those factories.
On the other hand, Ford - which now has a workforce of 53,000 on European soil, 13,000 of which in England - is preparing to lay off a few thousand workers to make the European operation profitable.