Stock prices across the world have taken a huge hit following Brexit, the UK's decision to leave the European Union. Investor confidence has dropped across many sectors, including the auto industry, as uncertainty looms over the economic ramifications of this historic move. The UK, one of the largest automotive manufacturing hubs in Europe, must now decide how to move forward with this exit.
About 75 percent of the vehicles manufactured in the UK are destined for export, mostly to Europe. But it's not just British automakers, few of which today are actually British owned, that have taken a hit. Automakers, suppliers, and even transportation companies like Penske are experiencing falling stock values.
As of this writing, the following manufacturers have taken hits. Percentages are relative as the stock prices are still in flux.
With regards to the auto industry, the UK government will need to determine what sort of tariffs will be imposed on imports and exports, how labor and employment will be handled, and if manufacturing will be forced to move elsewhere if costs become too great.
Related Video:
About 75 percent of the vehicles manufactured in the UK are destined for export, mostly to Europe. But it's not just British automakers, few of which today are actually British owned, that have taken a hit. Automakers, suppliers, and even transportation companies like Penske are experiencing falling stock values.
As of this writing, the following manufacturers have taken hits. Percentages are relative as the stock prices are still in flux.
- Toyota: -8.6 percent
- General Motors: -3.8 percent
- Volkswagen: -5.5 percent
- Hyundai: -1 percent
- Ford: -5.9 percent
- Nissan: -8.1 percent
- Fiat Chrysler Automobiles: -12.3 percent
- Honda: -4.47 percent
- Tesla: -1.8 percent
- Delphi: -10.6 percent
- BorgWarner: -10.2 percent
- Tenneco: -10.5 percent
- Penske: -10.2 percent
With regards to the auto industry, the UK government will need to determine what sort of tariffs will be imposed on imports and exports, how labor and employment will be handled, and if manufacturing will be forced to move elsewhere if costs become too great.
Related Video:
Sign in to post
Please sign in to leave a comment.
Continue