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No-deal Brexit could put Nissan's European branch at risk

By Caoimhe Toman

Date: Thursday 10 Oct 2019

No-deal Brexit could put Nissan's European branch at risk

(Sharecast News) - Nissan said on Thursday that a no-deal Brexit leading to the imposition of WTO tariffs on exports could put its entire European arm at risk.
Gianluca de Ficchy, the chairman of Nissan Europe, said the imposition of a 10.0% tariff on exports under World Trade Organisation (WTO) terms would threaten the future of its large Sunderland plant.

"If we are in a situation in which tomorrow we have to apply 10% export duties to 70% of our sales, the entire business model for Nissan Europe will be in jeopardy," he said.

The company added that the Qashqai model which it promised in 2016 would be built in the UK might not come to the Sunderland plant due to Brexit uncertainty.

The carmaker employed 6,000 people at Sunderland which in turn supported another 24,000 jobs in the supply chain.

"If no deal means the sudden application of WTO [terms] we know that our business model [in Europe] won't be sustainable in the future."

"We do not have a specific message to Boris Johnson - my message [is] as a business we do not have a clear understanding on the future evolution of the Brexit discussion."

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