Auto Hauling & Britain’s Exit
Now that Britain has officially left the European Union, what does this mean for the auto hauling industry? What new regulations might pop up for the importing and exporting of vehicles? Let’s jump into to some speculation and some hard facts of this industry shaking move.
Personally, I think that prices are going to go up and there will be a hindrance in the supply chain. Especially since there could be potentially new tariffs for shipping cars to foreign areas. With that being said how long that will last is up for debate. A system will be reestablished as soon as possible, or else wouldn’t it just fall apart?
This effects most sectors of transportation with the UK as it sits. The EU has system that allowed for the free flowing of goods between nations. Effectively making their logistics look more like the United states. Countries looked essentially like states. Without the free flow of goods this throws a wrench in moving auto hauling.
Jaguar Land Rover, Nissan, Ford, Vauxhall, BMW, and Toyota and other industry leaders came together to urge people to not leave the EU. Around 80% of vehicles made in the UK are exported, with around 60% of that number destined for Europe. Toyota said this week that the UK’s exit could add a 10% levy on the cars it builds in the UK. In vice versa 90% of the cars in the UK are imported from Europe so this makes transport more difficult.
Stock Market Uncertainty
The auto hauling industry is resilient, even though stocks fluctuated so drastically in the United States. This is potentially just temporary and the uncertainty in the auto hauling industry and auto industry at that, needs to stop. It makes sense that this will cause any huge changes for moving cars, but the industry is strong and will find a way to recooperate from this change.
What are your thoughts? Comment below.