BMW has revealed it will suspend production at its Mini plant in Oxford on October 31, Boris Johnson’s deadline for the UK leaving the European Union “no matter what”, and on the following day, to avoid potential disruption.

The German car giant has also raised the prospect of longer-term cuts in production at the plant, at Cowley in Oxford, in the event of a no-deal Brexit. It noted World Trade Organisation tariffs would increase the prices of the cars it was selling into the EU in such a scenario and flagged the likely impact on volumes.

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Asked about the danger of a no-deal Brexit, BMW finance chief Nicolas Peter told the BBC at the Frankfurt Motor Show: “Of course, this would impact our business. The impact is explained in a very simple way. No-deal would mean that most likely WTO tariffs would be imposed from November 1 onwards.

“This would mean that we most likely would have to raise our prices for the products produced in the UK and shipped to other markets, in those markets. Increase of price means an impact on the volume you sell and would eventually lead to a reduction of produced cars in Oxford, in our UK plant.”

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He said this was “why we really urge the Government to avoid a no-deal Brexit”.

Mr Peter described production cuts at the Cowley plant, where about 4,500 people are employed, as a “first step” to tackle a no-deal Brexit. BMW also makes Minis in the Netherlands.