The British car industry has delivered a bleak warning over the danger of a no-deal Brexit, saying it would devastate UK motor manufacturing at a cost of more than £40 billion in lost production by 2024.
Iranian authorities said that Pride, a car model that has dominated the country’s market for more than two decades, will be dumped in early summer 2020 as reports emerge of a recession that has affected sales in the wider industry.
A US-Japan trade deal hit a last-minute snag as Japanese officials sought assurances that the Trump administration will not impose national security tariffs on Japanese-built cars and auto parts, people familiar with the talks said.
Iran’s defense industry is to offer expertise to save a major car project which suffered after the France-based company, PSA Peugeot Citroën, left the country under pressure of sanctions from the United States.
British car output fell for the tenth month in a row in March, hit by a slowdown in key foreign markets, and the sector stands to suffer a lot more if the country leaves the European Union without a deal, an industry body said on Tuesday.