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UPDATE 1-No-deal Brexit tariffs could be unsustainable for Nissan in Europe

(Provides quotes, particulars)

SUNDERLAND, England, Oct 10 (Reuters) – No-deal Brexit tariffs of 10% on vehicles could be unsustainable for Nissan in Europe, the place the carmaker’s operations embody a British and Spanish plant, the Japanese agency warned on Thursday.

Nissan made almost one in three of Britain’s 1.5 million vehicles final yr at its northern English Sunderland manufacturing unit, though annual manufacturing ranges on the website will drop this yr.

The automotive business, Britain’s largest exporter of products, is worried that World Commerce Organisation tariffs of 10% on automobiles alongside new customs checks and delays may halt manufacturing if there’s a disorderly Brexit on Oct. 31.

“That will represent a significant cost increase on our vehicles that will have to face the competition in Europe and they won’t be affordable,” the agency’s European Chairman Gianluca de Ficchy instructed reporters.

“If there will be a no-deal and a no-deal will be associated with WTO tariffs application, that won’t be sustainable for us,” he added.

Prime Minister Boris Johnson has mentioned he’s ready to take Britain out of the European Union with out an settlement however is in search of a take care of the bloc, though time is operating out to safe an orderly departure earlier than the deadline in three weeks.

Nissan mentioned it was inspecting a bunch of situations and desires the tariffs to not be utilized if Britain leaves the bloc with out an settlement.

“We are asking not to have tariffs being applied in a no-deal scenario because otherwise the tariffs won’t be sustainable for us,” de Ficchy mentioned. (Reporting by Costas Pitas, Modifying by Paul Sandle)

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