Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Honda to shut down UK factory in 2022, putting 3,500 jobs at risk

The firm is expected to make the announcement of its closure of its plant in Swindon, England, on Tuesday.

Japanese carmaker Honda Motor is said to be closing its factory in the South West of England in 2022, a move that would put 3,500 jobs on the chopping block.

The firm is expected to make the announcement of its closure of its plant in Swindon, England, on Tuesday, media reports said.

According to British member of parliament Justin Tomlinson, the decision from Honda was not based solely on Brexit. ‘They (Honda) are clear this is based on global trends and not Brexit as all European market production will consolidate in Japan in 2021,’ he tweeted.

‘Honda will be consulting with all staff and there is not expected to be any job losses, or changes in production until 2021,’ Mr Tomlinson added in a follow up tweet.

Honda responded in a statement the firm is ‘not able to make any comments regarding the speculation.’

The carmaker’s Swindon plant has been producing the brand’s Civic model for the global market for over 24 years. About 150,000 units roll of the line every year.

Car manufacturers skid off UK

Other carmakers have been raising their concerns to the United Kingdom (UK) on the uncertainty surrounding Brexit. Japanese carmaker Nissan announced earlier this month it was cancelling plans to build its X-Trail SUV in the North East of England due to concerns on issues caused by Brexit.

Last week, automaker Ford Motor told British prime minister Theresa May in a private conference call with other business leaders it is preparing alternative production sites to prevent no-deal Brexit tariffs.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Trading around Brexit

Find out how Britain’s EU exit continues to affect traders, and discover:

  • How you can trade on Brexit
  • The markets you should be watching
  • Brexit trading strategies for key assets

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Sunday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.