The Consequences of Brexit [Part 6] READ FIRST POST BEFORE COMMENTING

[Bargepole23 337]

Honda to close its Swindon plant.

 

From Sky news...

 

"Sources said that Honda was likely to relocate the manufacturing capability at Swindon to its home market of Japan.

The ability to guarantee tariff-free exports to the EU is understood to have been among the factors persuading the company of the merits of its decision."

 

Hopefully, those leave voters at the plant will still be happy with their choice when they lose their jobs, and will consider it a worthwhile sacrifice.

Edited February 18, 2019 by Bargepole23

[mafya 248]

14 hours ago, Top Cats Hat said:

You don't live in the real world, do you?

 

Very few Porsches are bought for cash by millionaires. The majority are bought on finance by blokes who have always wanted one. A 10% extra charge will put about 8K on the price and will make the difference between bying it now, buying it in two years time or not buying it at all!

I bought my Range Rover evoque for cash in 2015 so not everybody buys on finance. 

[Magilla 510]

32 minutes ago, Bargepole23 said:

Honda to close its Swindon plant.

 

From Sky news...

 

"Sources said that Honda was likely to relocate the manufacturing capability at Swindon to its home market of Japan.

The ability to guarantee tariff-free exports to the EU is understood to have been among the factors persuading the company of the merits of its decision."

 

Hopefully, those leave voters at the plant will still be happy with their choice when they lose their jobs, and will consider it a worthwhile sacrifice.

The company said the move was to ensure it could adjust to "all possible outcomes caused by logistics and border issues"

 

 

 

Edited February 18, 2019 by Magilla

[Magilla 510]

China first, now Japan....

 

UK-Japan trade talks sour after letter from Hunt and Fox

https://www.ft.com/content/9cd62bde-32ba-11e9-bd3a-8b2a211d90d5

The UK’s latest attempt to persuade Japan to agree a quick post-Brexit trade deal has backfired after officials in Tokyo reacted with dismay at British tactics.

Japanese officials believe that it reflected an increasingly high-handed approach from the British side.

 

In response, officials in Tokyo briefly considered cancelling a round of trade talks this week.

 

Japanese officials familiar with Tokyo’s bilateral talks with the UK said that there had been growing frustration with the British side. Although Japan acknowledges that progress has naturally slowed while their UK counterparts have been pulled into preparations for a no-deal Brexit, officials say there have been several occasions when British negotiators have come to the table without the necessary specialists to take negotiations forward.

 

Despite 18 months of talks, Japan and the UK have failed to make significant breakthroughs on a new trade deal.

 

The differences of position, which the Hunt/Fox letter acknowledges as “challenging issues”, centre around Japan’s refusal to accept a simple “cut and paste” of the terms of the EU-Japan agreement ratified last year.

 

Instead, its officials have been told to negotiate as they would any other trade accord, and to seek better terms from the UK than Japan won through its long haggle with the much larger EU.

 

 

 

 

Edited February 18, 2019 by Magilla

[Top Cats Hat 10]

22 minutes ago, Magilla said:

Personally, I think they'll all be going no matter what now.

Leave supporters can scream "Project Fear!" all they like but every manufacturing company which has any dealings with the EU single market, now has to consider whether they can afford to stay in the UK (British firms as well as overseas ones) It is not beyond the realm of possibility that everyone will end up leaving.

 

People are fixated with March 29 2019 as the important deadline, but for serious businesses that deadline passed many months ago. Even if Parliament put the interest of the country and its people first and cancelled Brexit tomorrow, irreparable damage has already been done.

[Magilla 510]

1 hour ago, Top Cats Hat said:

Leave supporters can scream "Project Fear!" all they like but every manufacturing company which has any dealings with the EU single market, now has to consider whether they can afford to stay in the UK (British firms as well as overseas ones)

Hold your horses! Pro-Brexit Swindon MP Justin Tomlinson proclaims "it's nothing to do with Brexit"!

 

Didn't see that coming!

 

Honda to make an announcement tomorrow.

 

 

 

 

Edited February 18, 2019 by Magilla

[lil-minx92 10]

4 hours ago, L00b said:

The whole market has shifted that way, never mind finance (which underpins that shift), with PCP deals (which are leases rather than HP) pretty much the norm for new cars in the UK nowadays.

 

I vaguely remember a stat that I read a while ago, that some 90% of new cars were now sold through PCP deals in the UK?

 

That's a bubble which is going to create a whole host of negative after-effects at the micro-economic scale, when the next crisis hits: many people don't have any equity in their cars anymore, it's been grabbed and locked by manufacturers (' financial arm) in the cars' "future resale value"...so long as the market doesn't implode under their feet.

 

They don't have the option of keeping their car, if they can't afford the balloon payment at term, and they don't have any cash to show for the duration of their ownership: they restart from scratch.

I suspect most people didnt have equity in their cars anyway. Most will take out a loan that they would have to pay off with any proceeds from sale. 

 

I doubt many people have 15/20k spare with which to buy a car

 

As an aside I've always wondered why a manufacturer doesnt make a stripped down vehicle to sell cheap. How many cars go to the scrap yard with rear seats that have barely been sat in.

Edited February 18, 2019 by lil-minx92

[RJRB 688]

Another bleak day for Britain.

The whole political ,social and financial climate has sunk to an unthinkable low as a direct result of Cameron ,the right wing and those who voted for Brexit with little understanding of where it might lead.

I am not claiming that I or all Remainers had the monopoly on understanding,but I do believe that many of us could foresee that inward investment to the U.K. was dependent on our access and proximity to mainland Europe.

I also believe that we did not play into the immigration blame game as orchestrated by UKIP and Enoch Powell’s descendants.

Not only have we made an awful decision,but the fallout is being ineptly handled by the Conservative Government who within the last week have managed to alienate both the Chinese and Japanese with their approach which harks back to the days of The Empire.

These days are gone,but we had managed to get a seat at the top table by being a part of the EU.

Step forward you Brexit voters and tell us and share your dreams with us.

[L00b 441]

27 minutes ago, lil-minx92 said:

As an aside I've always wondered why a manufacturer doesnt make a stripped down vehicle to sell cheap. How many cars go to the scrap yard with rear seats that have barely been sat in.

That option might be on the Austin Brexit catalogue 

Edited February 18, 2019 by L00b

[L00b 441]

58 minutes ago, lil-minx92 said:

I suspect most people didnt have equity in their cars anyway. Most will take out a loan that they would have to pay off with any proceeds from sale. 

If they can get that finance, post-Brexit.

 

I'm like Bargepole. I have the spending power to buy and run a brand new Macan or Q5 (eg). But I still prefer to own outright and run an old [whatever I fancy, used to be Scoobys,  bigger Mercs nowadays]: driving the car I want (and can afford to buy and run for however long) is a treat to myself, I don't feel that irrepressible need to impress anyone with money I don't have 

Edited February 18, 2019 by L00b

[tzijlstra 11]

TPP, anybody heard of it? I hadn't. But apparently our on the ball cabinet had! Unfortunately Great Britain and Ireland are very much in the Atlantic, not the Pacific, so joining in negotiations to set up the Trans Pacific Partnership (TPP) has been denied straight away by our Australian overlords. Quite rude really, just because they walk upside down all day from the proper heart of the empire doesn't mean they are the proper empire!

[Mister M 1,625]

Two prominent Brexiteers got it completely wrong:

 

9:30 AM · Sep 17, 2015

Daniel Hannan
@DanielJHannan
That idea that car manufacturers might disinvest after we leave the EU? It's a - what's the word? - oh yes. Lie.
 

https://twitter.com/DanielJHannan/status/644428141302255616

 

One of the most deceitful arguments some Remain advocates use is that the car industry depends on the EU for its success and would be adversely affected if we leave. They need to explain the damage membership of the EEC/EU did to it.

 

https://twitter.com/johnredwood/status/1018037595379503104?s=19