Today, the chief executive of Bentley said that a no-deal Brexit scenario could be “quite damaging” for the annual profit of the company. He said that it may also force it to close or stop production for a few days.
Adrian Hallmark said that his firm is already stockpiling some parts and switching some of its imports from the port of Dover to Immingham. He added that the carmaker is likely to consider more contingencies this December once a no deal is reached.
In an interview with Reuters, he stated: “Best case, it’s an annoying impact on our annual profitability.”
He added: “Worst case, it’s quite damaging on our annual profitability so a full no-deal Brexit would hurt us as a company, it would limit ability to invest.”
He continued: “We may work for four days, or we may have a longer Christmas break and a longer Easter break if there is no deal so that we can smooth the period between now and the middle of next year.”
The brand is owned by Volkswagen. It sold approximately 6,700 cars during the first three quarters of the year, a number down by nearly a thousand year-on-year. However, Hallmark said that it is still on track to achieve its record 11,059 sales this year.
The sales revenue of the company plunged to €1.1bn, with an operating loss amounting to €137m since it was affected by the delays experienced on its new Continental GT model.
While facing the uncertainty of Brexit, the firm is also striving to expand its range. It is expecting that it will be able to launch the first fully electric Bentley before the middle of the next decade.
The car industry of the United Kingdom employs around 850,000 people. It is concerned that it could be affected with import tariffs amounting to as much as 10 percent under the rules of the World Trade Organization after Brexit.
Earlier this October, Nissan, the Japanese car maker whose Sunderland plant is considered to be the largest in the country, released a warning that a no-deal Brexit would bring “serious implications” for the manufacturers of the United Kingdom.
Jaguar Land Rover has said that Brexit could cost the company £1.2bn per year, while Aston Martin is even considering flying car components into the country once there are queues on the motorways around Dover.