British car industry bosses have welcomed the post-Brexit trade agreement reached between the UK and the European Union, which is set to avoid the introduction of tariffs on cars and car parts.
The trade deal, which Prime Minister Boris Johnson estimates is worth around £660 billion, was agreed after years of negotiation between the UK government and EU officials. The deal still needs to be ratified by both the UK parliament and the 27 EU member states.
Daksh Gupta, the boss of leading car dealer Marshall Motor Group, tweeted that the deal was “a great Christmas present”. He added: “This is great news for the automotive industry. Brexit has cast a shadow over our sector for four-and-a-half years.”
Marshall Motor Holdings Plc (LON:MMH), together with its subsidiaries, engages in retailing passenger cars and commercial vehicles in the United Kingdom. It sells new and used vehicles; and provides after sales services, such as servicing, body shop repairs, and parts sales.