BMW AG became the latest carmaker to weigh in on the Brexit debate as an executive warned that the introduction of any tariff would have repercussions for the German firm's business.
A day after Toyota Motor Corp. and PSA Group of France expressed disquiet with the U.K.'s planning for exiting the European Union, BMW's head of purchasing, Markus Duesmann, called Brexit a "very uncomfortable scenario."
The concern of the world's second-largest maker of luxury cars is that Britain's divorce from the EU will result in tariffs and other trade barriers being imposed on its cars and parts. World Trade Organization duties on autos currently average about 10 percent. Munich-based BMW builds Mini-brand and Rolls-Royce models as well as vehicle components for the group at plants in England, and its exports from the U.K. total about £2.4 billion ($3.2 billion).