Stock market quotes, forex, financial news, forex tools –

Jaguar is afraid of huge losses due to Brexit

 Breaking News
  • US Ministry of Energy predicts reduction of oil prices The US Ministry of Energy has published a monthly report, which turned out to be discouraging. It is expected that in the last quarter of this year the price for...
  • 28 Chinese companies are blacklisted by the US Everyone knows that just in few days two powerful states China and the USA – are starting the next round of the negotiations. Official Beijing has announced that it is...
  • Startup WeWork again in spotlight We have been writing about the startup WeWork, which was forced to postpone the initial public offering. They earn by renting commercial space for a long time in order to...
  • Massive cuts in HSBC HSBC Holdings Plc, the largest bank in Europe and one of the most significant and serious players in the global financial market, has announced the launch of a cost-optimization program....
  • Oil quotes still wait for negotiations Today, at 8.15 a.m. Moscow time, futures for Brent crude oil were trading in London for $ 58.31 per barrel. This is only 0.1% below the closing price of the...
Jaguar is afraid of huge losses due to Brexit
July 05
09:00 2018

Jaguar Land Rover, a British car manufacturer, has warned the authorities about the consequences of the country’s withdrawal from the EU. The concern owned by Tata Motors is trying to warn that Brexit may be a bad idea without having access to a single market.

CEO of Jaguar believes that if the conditions regarding Brexit are not profitable enough, the company will lose about 1.5 billion pounds a year. Ralf Speth noted that the concern would have to completely reconsider its policy regarding expenses. “In the last 5 years, we have spent about £ 50 million, and over the next five years we are planning to spend even more – 80 million. If we don’t get good conditions, then all our investments will be threatened.”

Despite the fact that Jaguar belongs to an Indian company, its roots are in the UK. If the manufacturer does not receive free access to the European market as a result of Brexit, then its future will be unpredictable. Free trade with the EU is the only way to keep the company alive. In addition to the finance, about 40,000 job opportunities in Britain would then be in jeopardy.

Earlier, other companies – Airbus and BMW – expressed their view about a cessation of the production in the territory of the United Kingdom. It seems that the idea of the withdrawal from the EU should be through as carefully as possible, otherwise economic consequences may arise.


The material was prepared with the participation of Anjela Chromova,
a leading analyst of the brokerage company CT Trade

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment