As of 1 February 2020, the United Kingdom is no longer a member of the European Union (EU). In addition, the agreed transition phase ended on 31 December 2020. With the agreement on the trade and cooperation treaty of 24 December 2020, the European Union and the United Kingdom have established a new basis for economic relations. Overall, the Brexit negotiations between the UK and the EU were difficult, long-lasting and extremely intensive. In the end, however, both parties succeeded in reshaping the future relationship on both the political and the economic level. Nevertheless, it must be stated that Brexit has had a noticeable economic impact on the UK, the EU and Germany - one of the largest economies in the EU. The British automotive industry in particular has been hit hard by Brexit and is facing an uncertain future. Since 2017, the UK has seen a sharp decline in car registrations. By 2020, the UK vehicle market had lost more than 1 million units (-39.4%), with market share falling to 14.1%. German car manufacturers, on the other hand, are the undisputed leaders within the EU with 2.92 million new registrations (25.2% share). The German automotive industry has coped much better with the effects of Brexit than the British carmakers - due to its international dominance.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Problem definition
- Course of the work
- Brexit
- Brexit process
- Economic effects for UK
- Economic effects for EU
- Economic effects for Germany
- Brexit and the automotive industry
- General conditions and sector development – automotive industry
- Brexit: Economic effects for the UK automotive industry
- Brexit: Economic effects for the German automotive industry
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This essay explores the impact of Brexit on the British economy, particularly within the automotive industry. It examines the economic effects of the UK's exit from the EU on both the UK and Germany, analyzing the potential for economic decline in Britain and its implications for the automotive sector.
- Economic effects of Brexit on the UK, EU, and Germany
- Impact of Brexit on the automotive industry in the UK and Germany
- Comparison of the economic performance of the UK and German automotive industries
- Analysis of the potential economic slump in the UK as a result of Brexit
- Investigation of the spillover effects of Brexit on the EU and Germany
Zusammenfassung der Kapitel (Chapter Summaries)
The introduction establishes the context of Brexit, outlining the historical background and its implications for the UK, the EU, and particularly, the automotive industry. The second chapter delves into the process of Brexit, analyzing the economic effects it has had on the UK, EU, and Germany. The third chapter focuses specifically on the impact of Brexit on the automotive industry, examining the general conditions and sector development, as well as the economic effects on both the UK and German automotive industries.
Schlüsselwörter (Keywords)
Brexit, automotive industry, economic effects, UK economy, German economy, EU, trade and cooperation treaty, economic spillover effects, sector effects, automotive sector development.
- Quote paper
- Maximilian Ludwig (Author), 2021, Brexit and automotive Industry, Munich, GRIN Verlag, https://www.hausarbeiten.de/document/1190416