Toyota Invests Quarter of a Billion in UK #DespiteBrexit

Toyota today announces an investment of more than a quarter of a billion pounds into the UK, contrary to previous warnings from the firm and car market analysts over Brexit. The Japanese company has a major plant near Derby where it manufactures its Auris and Avensis models. About 75% of cars made at that plant are exported to EU nations. Last year the FT warned:

“The Leave vote could be the final straw for the two Japanese carmakers… Ahead of the referendum, Toyota had already warned of “huge cost reduction challenges” at its plants in Burnaston in Derbyshire and Deeside in north Wales if the UK faced a 10 per cent tariff on exports to Europe.

“The reality is that it’s nearly impossible to make profit considering that they had not made much money over the past two decades. Can you keep holding on to a perpetually lossmaking operation in Britain?” said Koji Endo, analyst at Advanced Research Japan.”

Experts…




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George Osborne’s Evening Standard leader on Leave voters:

“Now, like a duped drunk in a strip bar, voters find that, far from getting their hands on the goodies, they have been left with a large bill.”

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