European automakers warn of Brexit dislocation
European automakers and suppliers are warning about the damage that Britain's departure from the European Union could mean to the industry
LONDON (AP) — European automakers and suppliers are warning about the damage that Britain’s departure from the European Union could mean to the industry.
The comments come just days before the European Union will hold a summit with the other 27 EU nations to agree on guidelines for talks on the exit, or Brexit.
The auto association is underscoring the damage that Brexit could bring to an industry that employs 12.2 million people.
The sector is complicated and integrated. A single vehicle part may pass through 15 countries before being finished. A single vehicle consists of around 30,000 parts.
The lobbyists say 90 percent of commercial vehicles built in the U.K. last year were purchased in Europe, and seven out of every 10 new cars sold in the U.K. come from EU plants.
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