Billions of euros, millions of jobs: EU carmakers sound Brexit warning

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The potential cost of production stoppages for auto-makers in the event of a no-deal Brexit.

A month before Britain is due to quit the EU, the bloc's car manufacturers have joined forces to warn of billions of euros in losses.

Businesses have grown increasingly concerned at Prime Minister Boris Johnson's apparent lack of progress towards a new withdrawal deal.

Britain's car industry, which is almost entirely foreign-owned, is exceptionally vulnerable.

It is dominated by factories owned by German, French and Japanese auto-makers.

In a joint statement, groups including the European Automobile Manufacturers' Association,

the European Association of Automotive Suppliers

and 17 national groups warned of the impact on an industry which employs 13.8 million people in the EU... including Britain.

The European car industry is dependent on heavily integrated cross-border supply chains -

which rely on a zero-tariff, almost border-free environment within the EU's customs union.

The groups warn that a disorderly brexit will lead to tariffs adding billions to the EU-Britain car trade bill.