Brexit the economy and house prices part 6

buglawton

gfplux wrote: »

Interesting and slightly unpleasant news for the workers from BMW-MINI

https://news.sky.com/story/bmw-to-shut-mini-factory-for-a-month-after-brexit-day-sky-sources-11501360

QUOTE
Car giant BMW will shut its main British manufacturing factory immediately after Brexit day next year for several weeks, because of the rising risk of a "no-deal" divorce, Sky News has learned.

The Mini plant in Oxford will not produce cars for at least a month from 1 April 2019, as the German giant activates the next stage of its no-deal contingency plans.
END QUOTE

Hopefully they will not be loading the robots and track onto 747s and flying the factory to an EU27 country!

Interesting, first case I've heard of a car company owner going on strike. So will we all stop buying BMWs on that day too, on the basis that we can't trust the dealer network and spare parts to be maintained?

Never mind, plenty of far Eastern brands to choose from. MG, anyone?

Lornapink

Alistair Campbell's standard Remain claim the polls are moving in their direction completely trashed today by Britain's foremost polling expert when consulted by BBC Politics Live fact-checker team, just classic Remain spin baring the hallmark of those that pedal Project Fear;


'There is absolutely no consistent evidence to suggest the polls moving in favour of Remain or a second vote'. Of the 4 recent polls, 2 leaned towards Remain, 2 towards Leave.

https://www.bbc.co.uk/iplayer/episode/b0bkys8x/politics-live-20092018

Thrugelmir

QUOTE
Car giant BMW will shut its main British manufacturing factory immediately after Brexit day next year for several weeks, because of the rising risk of a "no-deal" divorce, Sky News has learned.

The Mini plant in Oxford will not produce cars for at least a month from 1 April 2019, as the German giant activates the next stage of its no-deal contingency plans.
END QUOTE

Brought forward annual maintenance of the plant. One wonders if this hides deeper issues in the car markets. Following Jaguars cut back to a three day week.

Brexit is going to be used to hide a multitude of sins.

Lornapink

Herzlos wrote: »

Brexit won't have helped either; new production facilities are more likely to be in Europe.
Jaguar itself should have largely price insensitive customers though.

Mini shutting the factory for at least a month from brexit day makes perfect sense. Demand will likely drop anyway and it means they can wait until all the customs niggles are figured out.

Hopefully they can use the down time for training and maintenance, and that it'll re-open once everything becomes clear. I suspect most car manufacturers will do similar.

Why are they spending lavishly on posh TV adverts if the future looks pretty bleak to them?


All will be well, Remainers will go very quiet once we leave and prosper.

Lornapink

UK manufacturing enjoys longest period of jobs growth in 40 years
https://www.ft.com/content/6e60e386-ab9a-11e8-89a1-e5de165fa619

Jaguar Land Rover to increase the range of engines manufactured at its Wolverhampton factory as part of wider £20bn five-year investment programme

https://!!!!!!/2lze7NR #GBmfg


Top US Banks plan to hire far more staff in London than anywhere else in Europe
https://uk.reuters.com/article/uk-britain-eu-jobs/a-year-to-go-before-brexit-u-s-investment-banks-still-bet-on-london-idUKKCN1GE2A2

UK exports record high - yet many Remainers on here claimed a year and two back that manufacturing would suffer as we import components / ingredients that would 'rocket in price due to fall in £'.

https://www.gov.uk/government/news/uk-exports-remain-at-record-high-in-the-year-to-june-2018

Thrugelmir

Originally Posted by Herzlos
Jaguar itself should have largely price insensitive customers though.

90% of their output is disesel currently. Fuel price would be very sensitive if engines were all petrol.

buglawton

Price insensitive customers tend to be the most fashion-sensitive. It was actually fashionable to boast about the surprising low fuel consumption of your massive expensive SUV at dinner parties (and actually here on MSE in places). That's ended with a thump. Hybrids will be the next fashion statement followed later by full EV.

Herzlos

Lornapink wrote: »

Why are they spending lavishly on posh TV adverts if the future looks pretty bleak to them?

Because that's what advertising is for.

All will be well, Remainers will go very quiet once we leave and prosper.

I really hope so.

lisyloo

Lornapink wrote: »

All will be well, Remainers will go very quiet once we leave and prosper.

I for one will be delighted if I’m wrong and we prosper.
I’ll go quiet, eat my hat or whatever you want.
I would love there to be a propsperous outcome and be wrong about it.

Herzlos

Lornapink wrote: »

UK manufacturing enjoys longest period of jobs growth in 40 years
https://www.ft.com/content/6e60e386-ab9a-11e8-89a1-e5de165fa619

Is this the same article you posted a few days ago? Have you actually ready it yet?
A third of the growth is in industries directly affected by Brexit, so if nothing else it's showing how the EU is good for us.

I'm pretty confident the other 2 articles paint similar pictures, but I bet you haven't read them either.

Your banking one is talking about short term confidence and is based on job adverts rather than plans.
I suspect that even if we lose EU banking access, the US will still benefit from London access.

Hiring staff is also fairly low risk; you can always fire or relocate them.