BMW Warns of U.K. Pullback If There’s No Brexit Deal
- German carmaker says customs uncertainty ‘not helpful’
- U.K. trade group says automotive investment is down by half
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German automaker BMW AG joined a rising chorus of businesses warning they will have to pull back on investment in the U.K. if a Brexit deal isn’t reached that ensures goods can flow freely to the European Union.
“The ongoing uncertainty surrounding the Brexit negotiations is not helpful when it comes to making long-term business decisions,” Munich-based BMW said Monday in a statement. “In particular, the lack of clarity surrounding future customs arrangements remains a cause for concern.”