Brexit reaction from car brands based in Britain
Billions of British pound sterling were wiped down from the trading values of many companies including car companies that profit from the EU. The losses faced by investors are similar across the board, though some companies have been struck harder than others.
Depending on where you look Volkswagen is down between 5% and 9%, give or take a bit. BMW is down about the same, Daimler AG went under by 8.2% and Nissan managed -8.1%.
To ensure stable trade, Honda, Nissan or any other company who assembles cars in Britain will try to play by the rules. But sales and possible profits will be hit.
Interestingly, the numbers are suggesting trade with Japan will be even harder hit, though it’s probably not because driving is done on the left side of the road in both countries.
And this could just be the tip of the iceberg. It makes no sense for an already struggling Honda to keep its factory in Swindon, especially as most of the production goes to Europe or, starting in 2017, the US. Events like these do not happen every day or even every decade. The EU’s main priority now will be to discourage other countries from following the British example.
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