AN ICONIC British car brand has announced it will axe hundreds of jobs in “volatile” times amid US President Donald Trump's tariffs.
The manufacturer said it will , but promised it is “committed to the UK”.
Rising online car sales and the soaring cost to physically run the sites to sell the vehicles has contributed to the .
But Trump's introduction of 25 per cent on car imports into the US has heaped even more.
Britain sends one-sixth of all the cars it builds each year to the US.
These include the popular Minis, Land Rovers and Range Rovers, McLarens and Aston Martins, and Rolls-Royces.
These are worth around £8 billion for more than 100,000 cars a year.
According to the Institute for Public Policy Research, the US portion of the car industry has around 25,000 jobs.
Prime Minister reassured those in the industry that he's “got your backs” but this has done little to ease fears.
The Lotus Group – which builds luxury sports cars and electric vehicles – announced 270 job cuts yesterday.
Its HQ is located in Hethel, near Wymondham, in Norfolk.
A spokesperson said: “The proposed restructuring is vital to enhance our competitiveness in today's market.”
“Lotus Cars has announced a proposed business restructure to ensure sustainable operations, amid volatile and evolving market conditions including the US tariffs and shifting consumer demand for sports cars.
“The company plans to increase synergies across the wider Lotus brand and with its largest shareholder and technology partner, Geely Holding Group.
“It will look at greater resource sharing and collaboration in technology, engineering, and operations.”
It comes after Trump announced the on cars would come into effect on April 2.
He claimed it would lead to “tremendous growth” for the industry.
However experts say it will likely lead to a temporary shutdown of significant production in the US and strain relations with other countries.
