Porsche AG’s UK unit has told customers they might have to pay as much as 10 percent more than expected for their imported cars if the UK makes a hard Brexit and their imported car arrives after March 29, when the country is set to leave the EU with or without a deal.
The move is a “precautionary step” that allows customers “to plan ahead, should this situation arise,” Porsche said on Friday in an e-mailed statement.
Customers who placed deposits on or before January 17 would not be affected.
The move by Volkswagen AG’s most profitable division marks the latest sign that failing to reach a divorce deal between the UK and the EU could send ripple effects across the industry, which would affect dealerships, factories and suppliers.
Ford Motor Co warned this week of dire consequences for its UK factories that employ more than 7,000 people if politicians fail to avert a no-deal split.
Affected Porsche customers would have the option to “adjust their order accordingly,” Porsche said in the statement.
“Like the rest of the industrial sector, we need comprehensive clarity on the shape of future relations between the UK and the EU very quickly,” it said.
Unlike automakers such as Ford, Nissan Motor Co and Jaguar Land Rover, the German sports car maker has no manufacturing operations in the UK. The company imports all of its vehicles from EU states.
Porsche delivered a record 256,255 cars worldwide last year, up 4 percent from 2017, fueled by growth in its largest markets, China and the US.
It is a real problem for Porsche, because the UK has traditionally been one of its largest markets in Europe.
Well-heeled shoppers in London have snapped up its 911 sports cars and the Macan and Cayenne sports utility vehicle (SUV)s, which occasionally have been mocked as “Chelsea tractors.”
Porsche’s popular Macan compact SUV, which starts at ￡46,344 (US$59,766) including value-added tax, would cost ￡50,978 if the duty was to be implemented.
The surcharge would help Porsche protect earnings if no deal is reached and the UK falls back to WTO rules, ending an era of tariff-free transportation of goods within the EU, the world’s largest trade bloc.
“For us, the current state means a further period of insecurity and planning uncertainty,” Porsche said. “In light of the current difficult situation we continue to prepare for all eventualities.”
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range
ROW: A probe would determine if the rights of shareholders who were not allowed to vote yesterday had been violated, while the stock exchange also wants answers The election of board directors yesterday at Tatung Co (大同) sparked controversy after the company blocked some institutional and individual shareholders from participating in the general shareholders’ meeting, prompting the Financial Supervisory Commission (FSC) to announce that the vote would be investigated. Lin Kuo Wen-yen (林郭文艷) was re-elected as chairwoman of the household-appliance maker’s nine-member board, but prior to the vote she announced that several shareholders would not have voting rights. They were being denied a vote because they had contravened the Business Mergers and Acquisitions Act (企業併購法), and the Act Governing Relations Between the People of the Taiwan Area and