The Spanish automotive plays 5,600 million with a Brexit hard

The export of vehicles, the main breadwinner of the trade balance españolaBrexit: More obstacles for the car, an industry with little margenVigo rises to snatch

The Spanish automotive plays 5,600 million with a Brexit hard
The export of vehicles, the main breadwinner of the trade balance españolaBrexit: More obstacles for the car, an industry with little margenVigo rises to snatch United Kingdom the manufacture of a vehicle

the risk of The next October 31, the occurrence of a Brexit abrupt poses a serious threat to auto sector Spanish, exported last year to the value of 5.635 million euros to Uk . Vehicle manufacturers and component suppliers have little to gain and much to lose if finally the british Executive does not reach an agreement with Brussels. The employers ' european and british, including Spanish Anfac and Sernauto, warned this week of the consequences "catastrophic" not to achieve an understanding. Something that would cause "thousands of millions of euros of duties, which would threaten to affect the competitiveness and affordability of the industry," enhancing the vehicles and may cause interruptions in the factories.

The car is the sector with more weight in Spanish exports to the Uk. Supposed something more than 30% of the total . 79% comes from the sale of vehicles and the remaining 20% of the components, according to the ICEX. Last year, 287.422 vehicles, with a value of 4.118 billion euros, left our factories to the dealers british. To change, so only about 80,000 cars "made in Britain" ended up in our country, with a combined value of 1.486 million euros. The result is a positive balance for Spain of 2.632 billion in 2018 , but has been cutting back, by the reduction of exports, since the country held the referendum-out, in 2016, when it reached 3.359 million.

"A Brexit without agreement will worsen even more this trade and will damage the entire chain of production, in Spain and in Europe," says Mario Armero , executive vice president of Anfac. Spain produces three of the ten cars most sold in british territory: the Vauxhall Corsa, the third model with more success -with 52.915 units in 2018; the Volkswagen Polo (sixth most sold, with 45.149); and the Ford Kuga (ninth, with 40.398). From the Uk, the only one who sneaks in the Spanish list of the most popular is the Nissan Qashqai, the third most sold, with 31.275 units; followed by the Toyota Auris, with 17.456.

The tables of the ministry of Commerce british in the event of Brexit without agreement contemplated a few tariff of 10% for passenger cars imported from the European Union -which make an average vehicle made in the EU in about 1,700 euros, and 22% for commercial vehicles. According to Anfac, a Brexit hard to make in the 370 million euros the cost of exporting vehicles produced in Spain. Any increase in price always affects significantly to the products of a competitive approach and low added value, such as those that occur in our country.

In march, the consulting firm, Oliver Wyman estimated an impact of 886 million euros for the Spanish automotive, the economic sector most harmed by Brexit. A sum equivalent to 4% of its gross value added, which currently amounts to 22,000 million euros. The greater part of the costs will come from the export of finished vehicles. Among them, 629 million euros from the sale of passenger cars and 161 million for commercial and industrial use. The most affected regions are the Valencian Community, Catalonia and Castile and León, because of its total exports to 21%, 11% and 12%, respectively, have as destination the United Kingdom, with special risk to the factories of Ford Almussafes and Seat Martorell.

Neither will be risk-free the Spanish industry of components , which works closely with the factories the british and exported to the Uk for the value of 1.517 billion euros in 2018. The potential impact, according to Oliver Wyman, to the Spanish industry of components in the event of Brexit hard is 79 million euros.

contingency Plans

In the short term, would not have to face tariffs to minimize the impact on the factories in britain. Possibly, yes twelve months after the Brexit, when the temporary tables of the british Government -that are designed to protect its most vulnerable sectors - were replaced by those of the World Trade Organization. From then on, I would have to deal with a rate from 2 to 5%, if there is not yet a trade agreement.

From the first moment, however, the sector, which operates under the principle "just in time" so that each piece arrives to the assembly line at the appropriate time, notary border controls. Only one minute of interruption of the production in the Uk could cost 54.700 euro. For this reason, virtually every manufacturer with a presence in the Uk, including McLaren, Lotus, Aston Martin, have developed contingency plans, which include accumulating parts for several days, temporarily close or, as BMW/MINI, transporting components by air. There is also who has opted to leave the country, like Honda, which shut down in 2021, its underutilized factory in Swindon.

Date Of Update: 26 September 2019, 17:03

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