No-deal Brexit to add £2.1bn to fleet sector’s annual new car bill
Failure to reach an EU trade deal will hit fleets hard, jeopardise any recovery of the automotive sector and slow down the uptake of electric vehicles, according to the BVRLA.
Warning that the “time for political posturing has passed”, the association estimates that the no-deal tariffs imposed on new car and van imports from the EU would add £2.1bn to the fleet sector’s annual new car costs.
It also estimates that fleets will need to spend an extra £2.8bn on battery electric cars over the next five years, threatening the transition to zero-emission motoring – a point that the SMMT has also made.
Last week saw the BVRLA join the CBI and more than 70 other trade associations from sectors across the UK economy in calling for the swift conclusion of a UK-EU trade deal.
It’s also written to senior policymakers across the Government, highlighting the devastating impact of a no-deal Brexit.
Gerry Keaney, BVRLA chief executive, said: “We need policymakers on both sides to reach a deal soon so that business and consumers can acquire new vehicles in cost-effective confidence and support a green recovery across the UK automotive sector and the wider economy.”