European Car Lobby Warns No-Deal Brexit Threatens Business Model
- ‘Just in time’ supply chains cannot stomach delays: ACEA
- Brexit summit set to take place in Brussels Wednesday evening
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Europe’s car lobby said a no-deal Brexit would threaten the very business model of companies operating in the U.K. and on the continent, urging negotiators to do everything in their power to avert a worst-case scenario on the eve of a summit in Brussels.
Carmakers and suppliers’ steps to prepare for the event of a disorderly withdrawal from the European Union -- such as pulling forward scheduled production stops and stockpiling parts -- won’t be enough to mitigate operations for plants that receive and fit millions of components every day, the European Automobile Manufacturers Association, or ACEA, said Wednesday in a statement.