For BMW no deal Brexit is a ‘decisive issue that ultimately could damage [the motor] industry’, according to Ian Robertson, BMW UK senior board member.
BMW employs around 8000 people in the UK, and manufactures the Rolls-Royce and Mini brands.
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BMW has three financial services arms with business in the UK market – Alphera dealing with consumer finance, fleet lessor Alphabet, and captive funder BMW Financial Services.
Robertson said: “If we don’t get clarity in the next couple of months we have to start making those contingency plans… which means making the UK less competitive than it is in a very competitive world right now.”
BMW has previously warned about the damage of a ‘no deal’ Brexit, and in May chief executive Harald Krueger said the company had to remain “flexible” about production facilities.
The company has built up an alternative manufacturing base in the Netherlands amid these concerns about Britain’s suitability as an export hub after Brexit.
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By GlobalDataThe warnings of a BMW no deal Brexit follow news of an Airbus risk assessment that the company could lose up to €1bn a week in the event of Britain leaving the European Union without establishing the terms of a trade partnership with EU nations.
The UK is due to leave the European Union on the 29th March 2019. Prime Minister Theresa May has ruled out the UK staying in the customs union after Brexit.
In addition to being a member of the board at BMW, Robertson has been the chairman of Rolls-Royce Motor Cars since 2004.
Prior to the referendum in June 2016, Robertson had issued similar warnings over the effect of Brexit on BMW’s presence in the United Kingdom. At that time Robertson said in an interview with Reuters: “The UK is a prosperous economy but if you imagine it without the flow of labour from the EU, I firmly believe that the British economy would not be in as strong a shape as it is.”
In 2017 BMW worldwide sold 2.4m units, an increase of 4.1%. BMW Financial Services rose 7.3% to €27.5bn (£24.5bn).
