General Motors Europe is still dealing with the aftermath of Britain’s vote to exit the European Union, stating the referendum vote has cost £346 million ($443 million USD) thus far.
To counter, prices have increased on all Vauxhall models by 2.5 percent. The increase went into effect on October 1, 2016 in GM Europe’s largest national market.
“It will be the trend across the industry,” Tina Müller, Opel’s chief marketing officer, said. “I think we are leading here but we know that everybody else will follow.”
GM anticipates a decline in British sales, but as of now, the market remains strong. Vauxhall is expected to lead in retail sales for the month of September.
Opel has also recently began reducing workers’ hours in the wake of Brexit, even calling the vote a “bad omen.”
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