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BRIEF – Brexit – British automotive industry: 50 percent fall in investment in the first half of 2018 Brexit 

BRIEF – Brexit – British automotive industry: 50 percent fall in investment in the first half of 2018

Compared to the same period last year, the value of investments in the UK automotive industry fell by almost 50 percent in the first half of this year, primarily due to the uncertainties surrounding the process of extinction of UK membership, according to a semi-annual summary of the British carmaker’s and dealers’ association (SMMT). The organization strongly calls on the British Government to maintain Britain’s membership of the EU Customs Union.

According to the SMMT report, the British automotive industry announced new investment plans for the production of plants, machinery, tools and other equipment from the first day of the year to 21 June of this year and amounted to 347.3 million pounds (128 billion forints) updating their models.
According to the automotive industry’s figures, companies in the sector announced new investment plans worth 647.4 million pounds (238 billion forints) for the same purpose in the first half of last year.

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