BMW can reduce its production in Oxford

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BMW can reduce its production in Oxford
September 12
13:00 2019

According to Bloomberg News, the German BMW concern plans to cut production capacity in British Oxford if Britain leaves the EU without an agreement with Brussels. Such information was provided by BMW Chief Financial Officer Nicolas Peter.

Mr. Peter stated that BMW had been already scheduled a shutdown of production on October 31. This is the date when Britain is leaving the EU.

“If there is a no-deal Brexit, we will be forced to limit our production and raise car prices,” Peter explains.

By the way, the financial director has fully confirmed the reality of achieving the financial goals set for the concern and noted that in the current situation all the plans of the auto giant would be realized.

For more than a year, world car manufacturers have been saying that they will be forced to withdraw their production from the country if Britain chooses the “tough scenario” of Brexit. Last week, Toyota announced that it would stop production in Britain on the day it left the European Union.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company
UFT Group

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