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BMW to halt production at Oxford plant on planned Brexit date

BMW to halt production at Oxford plant on planned Brexit date
A logo of German luxury carmaker BMW, is seen ahead of the company's annual news conference in Munich, Germany, March 20, 2019. REUTERS/Michael Dalder -
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MICHAEL DALDER(Reuters)
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BERLIN (Reuters) – BMW <BMWG.DE> will halt production at its Oxford plant on Oct. 31 and Nov. 1 and is considering removing a shift there in case the United Kingdom leaves the European Union without a deal, its Chief Financial Officer Nicolas Peter said on Tuesday.

Peter said a no-deal Brexit would impact production, adding that suspending production on the date of Britain’s scheduled departure from the EU and the following day would shield BMW from losses in its logistics.

Speaking at the Frankfurt motor show, he also confirmed the company’s 2019 financial targets, but said it was too early to make a forecast for 2020 which would partly depend the developments in the trade dispute between the United States and China.

(Reporting by Jörn Poltz, writing by Riham Alkousaa, editing by Tassilo Hummel)

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