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Brexit could cost thousands of jobs in German auto industry

Staff Writer |
A study by the Consulting firm Deloitte has warned that European car manufacturers could suffer a fall in sales of up to 20 percent as a consequence of the United Kingdom's departure from the European Union.

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Equivalent to losses last experienced during the financial crisis in 2009, the indicated figure would apply in the event of a so-called "Hard Brexit" in which Britain leaves both the European Union and its Single Market.

Every fifth car manufactured in Germany is exported to the United Kingdom, making it one of the most significant markets for the country's automotive industry.

950,000 German made cars were newly registered in Britain in 2016.

According to Deloitte's figures, 60,000 jobs in Germany depend on automotive exports to the UK, of which 18,000 would be endangered in a "Hard Brexit" scenario.

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