U.K. Automakers Say Weak Pound Won’t Offset Brexit Tariffs
- Increasing fears of no-deal Brexit drove pound to two-year low
- SMMT: No-deal is “worst imaginable” outcome for the sector
An employee passes the bodywork of Range Rover Sport SUV at a manufacturing plant in Solihull, U.K.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
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U.K. automakers won’t get enough of a sales boost from the weakening pound to offset European Union tariffs that would accompany a no-deal Brexit, their industry association warned.