Will Brexit strike a blow at the UK auto industry? – CNBC

Posted: Wednesday, July 06, 2016

More broadly, automotive sales growth is looking robust. The global car market will grow 2.8 percent a year on average, with global sales of 110 million cars per year by 2023, according to the AlixPartners Global Automotive Outlook 2016 report, published last week.

The U.K. is not likely to lose jobs in the auto industry in the short term, according to Bergbaum.

“Last year and the year before there was about £2 billion ($2.66 billion) a year invested into the U.K. Clearly, making sure that investment continues is not going to affect jobs now, but jobs in the future,” he said.

“Now is the time not to panic, but to carefully assess the whole organization, remembering that investment is critical.”

However, Brexit could affect some car-making nations, such as Germany, due to currency depreciation.

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