The effects of the UK's exit from the European Union are likely to be felt in the car industry.
Those responsible for Jaguar Land Rover, the largest group in the British car sector, are concerned about the possible consequences of Brexit. According to Reuters, the latest internal report by the British group estimates that in the worst-case scenario, annual revenue could fall by more than 1 billion pounds, or around 1.22 billion euros, by the end of the decade.The departure of the United Kingdom from the European Union will force all transactions on European soil to be carried out under the World Trade Organization, which entails paying export costs (10%) and entry fees (4%).
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As a result of last Thursday's referendum, negotiations on the construction of a new factory in Slovakia, as well as the purchase of the concession for the prestigious Silverstone circuit, were also suspended. Jaguar Land Rover currently produces around a third of the cars in use in the UK.