uNisan and now Honda with others to follow. Undoubtedly they will not directly point the finger at Brexit but uncertainty is indeed a very BIG part of the decision.
Let's just analyse a basic few points and one doesn't have to be Einstein to add up the numbers.
Car industry going through major change yes; with petrol to Electric conversion. However, whether the car is Petrol/Electric or Diesel EU rules haven't changed on the value added rules wrt goods originating in EU member states.
The KEY questions are; car industries about to make some significant structural investments on car design. Where should that investment be made?
Whether hard/soft/no Brexit occurs or not, the signs are unclear. This uncertainty with the Eurosceptics is not going to go away unless some significant show-down takes place and they are put to rest. So why invest in the UK? Why take that risk?
Thus, at this opportune time when new investment is about to be made then the location of that investment and long term certainty and viability of that project is a key.
Anyone who does not acknowledge this key factor is in denial. Why commit to investing in UK? What is there to be gained in remaining in UK compared to all the headaches of potential tariffs with import/export delivery issues. Why take the risk of uncertain outcomes having witnessed the shambolic conduct of Brexiteers and UK Gov.
Both Japanese businessmen and their PM told TM they prefer to see us in EU not outside. They said this publicly. So did China.
Obviously, their CEOs can't say we are leaving because of Brexit. They would be an outcry that they are intervening in UK's domestic policy. They may alienate their Brexit customers. Well managed companies don't get involved in poitical decisions but simply focus on production.
BoE, Mr Carney said the same with respect to uncertainty and drop in investment has cost the UK, drop in investment approximately around 50bn +. Especially at a time when global economy was growing.
Once again whether it is Airbus, Motor, R&D, Defence, Satellites etc etc., such investment will look for an alternative, more secure and stable European home. This is just the start and we haven't left yet. Once these go, it'll be very hard to bring them back.
3500 jobs + peripheral ancillary services now must be wondering what will replace those jobs and incomes post Brexit.
I reckon we should scrap HS2 and setup new state of the art electric car production plant with that money instead. Let's turn a negative into a positive.