Brexit, car leasing and the wider automotive industry.
With the Brexit withdrawal agreement seemingly taking a back seat in the press due to the mounting implications of the COVID-19 pandemic, the UK’s official exit from the European Union has appeared to sneak up on us unannounced.
The 12-month transition period that began in January 2020 will end on 1st January 2021. Negotiations are still taking place around a Brexit exit deal. But, without one, the trade agreements currently in place that govern our commercial relationships with Europe will cease alongside our EU membership.
At the very least this will cause a period of uncertainty until new agreements can be made and implemented. At the worst, this will sever trade agreements more permanently. Leading to greater and prolonged trading restrictions, delays, and increased costs.