Nissan Could Face $620 Million Brexit Toll, Senior VP Says
- WTO tariff rules could dent sales of Sunderland-built Qashqai
- May ‘adjust’ U.K. operation depending on talks, lawmakers told
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Nissan Motor Co. could face a 500 million-pound ($620 million) hit to profit should the U.K. fall back on World Trade Organization rules after two years of divorce negotiations with the European Union, the first time the automaker has put an estimate on Brexit-related costs.
Speaking to lawmakers in the House of Commons in London Tuesday, Nissan Senior Vice President Colin Lawther said 10 percent tariffs on exports of the automaker’s Qashqai SUV, built in Sunderland, northeast England, and 2.5 to 4.5 percent tariffs on parts, would be “pretty disastrous” as the company would have to absorb some of the impact.