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BMW to Move UK Mini Plant Maintenance Closure Just After Brexit in Case of No Deal

German carmaker BMW said it will move the annual maintenance shutdown period for its British Mini plant to just after Britain is due to leave the European Union in April, in case there is no Brexit deal.

Carmakers generally close their factories over the summer for a few weeks to allow for retooling and repair work as many staff take vacations and sales are at their lowest ebb in the year.


"We have scheduled next year’s annual maintenance period at MINI Plant Oxford to start on April 1, when the UK exits the EU, to minimise the risk of any possible short-term parts-supply disruption in the event of a no-deal Brexit," BMW said.

"While we believe this worst-case scenario is an unlikely outcome, we have to plan for it."

Britain is due to the leave the EU on March 29 but London and Brussels have yet to agree the terms of a deal, with prime minister Theresa May battling to have her proposals accepted by many Brexiteers who want a cleaner break from the bloc.

BMW built nearly 220,000 cars at its southern English Oxford plant last year, accounting for 13 per cent of Britain's total car production of 1.67 million units.

But carmakers are worried that Brexit may impose customs checks on parts and finished models, adding costly delays to the manufacturing process.

The automotive sector, which employs more than 850,000 people in Britain, has warned that extra costs risk the viability of production sites.

Britain's biggest carmaker Jaguar Land Rover said on Monday (17) that it would go down to a three-day week at its Castle Bromwich plant from October until the beginning of December, after warning about the impact of Brexit and diesel policy.

BMW said it was sticking by its British production sites, which also include a Rolls-Royce car facility, an engine facility and a fourth site which houses a press shop and sub-assembly.

"We remain committed to our operations in Britain, which is the only country in the world where we manufacture for all three of our automotive brands," BMW said.

Reuters

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UK house price growth slows to 0.3 per cent in October.

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UK house price growth slows as buyers delay decisions ahead of budget

Highlights

  • Average UK house price rose 0.3 per cent in October to £272,226, down from 0.5 per cent growth in September.
  • Annual house price growth edged up to 2.4 per cent, with market remaining resilient despite mortgage rates being double pre-pandemic levels.
  • Buyers delaying purchases amid speculation that November budget could introduce new property taxes on homes worth over £500,000.
British house prices grew at a slower pace in October as buyers adopted a wait-and-see approach ahead of the government's budget announcement on 26 November, according to data from mortgage lender Nationwide.

The average house price increased by 0.3 per cent month-on-month in October to £272,226, down from a 0.5 per cent rise in September. Despite the monthly slowdown, annual house price growth accelerated slightly to 2.4 per cent, up from 2.2 per cent in the previous month.

Robert Gardner, Nationwide's chief economist, said the market had demonstrated broad stability in recent months. "Against a backdrop of subdued consumer confidence and signs of weakening in the labour market, this performance indicates resilience, especially since mortgage rates are more than double the level they were before Covid struck and house prices are close to all-time highs".

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