PSA Group has warned that Brexit will disrupt the European auto industry even if a trade deal emerges from high-stakes negotiations between the UK and European Union.
"There will be disruptions," Alison Jones, the UK managing director for PSA, said Wednesday at a Financial Times conference. "We're as ready as we can be without knowing the outcome."
British and EU negotiators are trying to strike a post-Brexit trade deal before the end of the week, with officials on both sides saying the outcome is still too close to call.
The auto industry has multiplied calls in recent weeks for a deal that wards off potential tariffs on vehicles and parts. Failure to reach a deal could cost the industry 55.4 billion pounds ($74 billion) by 2025, the Society of Motor Manufacturers and Traders said last month.