EU import tariffs ‘inevitable’?
14 October 2020
ASE experts say the Brexit-induced prospect of a 10% tariff on cars moving in and out of the UK from the EU is “inevitable”. Retailers purchasing from UK distribution arms will notice this through an upward pressure on price.
The tariff only affects cars imported from the EU, which may create market shifts: for example, cars imported from South Korea carry zero tariff.
“Some dealers buy stock directly from manufacturers or distributors in Europe and they will need to understand the impact of the UK’s exit from the EU Single Market and Customs Union on the cost and practicalities of importing prestige sports cars, mainly from Italy.”
However, some retailers Auto Retail Agenda spoke to believed a last minute deal would be agreed before a tariff was imposed.