UAW, Fiat Chrysler monitoring UK's departure from EU for impacts - News, Weather, Sports, Toledo, OH

UAW, Fiat Chrysler monitoring UK's departure from EU for impacts on Jeep

Dock Treece, partner of Treece Investments in Sylvania Twp. does not think Britain's departure from the EU will trickle down and affect Fiat Chrysler and Jeep. (Source: WTOL) Dock Treece, partner of Treece Investments in Sylvania Twp. does not think Britain's departure from the EU will trickle down and affect Fiat Chrysler and Jeep. (Source: WTOL)
TOLEDO, OH (WTOL) -

The United Kingdom’s big move out of the European Union could send shockwaves through the business world. But could it impact Jeep and its 5,000 local workers?

Jeep is a division of Fiat Chrysler Automobiles and FCA is headquartered in London, for tax purposes. It still, however, has strong ties to several remaining European Union countries. 

The Jeep brand has been on a roll.

At one point, dealers sold record numbers of the Toledo-made Cherokee and Wrangler. But could this split from the European Union stop that momentum?

Fiat Chrysler is based in Italy, which is still in the EU and is registered in The Netherlands, also still in the EU.

Dock Treece, partner of Treece Investments in Sylvania Township, said, “The people of England were really given a horror story to try to get them to
stay in the EU.”

He thinks the exit will let England take back control of its affairs but he doesn't think its departure from the European Union will trickle down to Fiat Chrysler and Jeep.

“I don't think the fact that they're in Italy is going to have any impact on them,” Treece said. “As I've said, they are - the way they are structured - I don't even know how much exposure they have to Italy.”

FCA agrees saying it has a worldwide global distribution of its operating activities and locations.

A company spokesperson in Italy said in a statement Friday afternoon, “The UK's exit from the European Union is not expected to have significant impact on FCA, either in industrial or other terms, although the result of the referendum raises questions about the future of Europe."

Treece said Jeep should stay focused on sales successes.

“The automotive industry has been going 'great guns' for a number of years. At some point, the automotive industry is cyclical. At some point, you're going to come to the end of this cycle and that will present more of a challenge for them," he said.

Ken Lortz, the director of the United Auto Workers, Region 2B, said the union has its national affairs team monitoring the UK's exit but he doesn't see any impact on production and employment.
 
 Follow WTOL:  

Download our app here

Copyright 2016 WTOL. All rights reserved.

  • Headlines from Lucas, Wood, Ottawa, Fulton & Monroe CountiesNewsMore>>

  • Former OSU football coach Earle Bruce dies at 87

    Former OSU football coach Earle Bruce dies at 87

    Friday, April 20 2018 8:31 AM EDT2018-04-20 12:31:56 GMT
    Earle Bruce (Source: Bleacher Report)Earle Bruce (Source: Bleacher Report)
    Earle Bruce (Source: Bleacher Report)Earle Bruce (Source: Bleacher Report)

    Former Ohio State Buckeyes coach Earle Bruce passed away Friday morning at the age of 87, according to ESPN.-

    More >>

    Former Ohio State Buckeyes coach Earle Bruce passed away Friday morning at the age of 87, according to ESPN.-

    More >>
  • Dave & Buster's reopens Friday after Lucas Co. Health Department confirms case of Hepatitis A

    Dave & Buster's reopens Friday after Lucas Co. Health Department confirms case of Hepatitis A

    Friday, April 20 2018 6:30 AM EDT2018-04-20 10:30:51 GMT
    (Source: WTOL)(Source: WTOL)

    A confirmed case of Hepatitis A has been diagnosed to a food handler who works at at Dave and Buster's near the Franklin Park Mall. The Toledo-Lucas County Health Department warns that anyone who consumed any food or drink from the restaurant between March 1 through March 29 has been exposed to the virus and should get tested.  Dave and Busters has set up a phone line for people with questions or concerns at  is 844-344-94-44. Follow WTOL:   Download our app he...

    More >>

    A confirmed case of Hepatitis A has been diagnosed to a food handler who works at at Dave and Buster's near the Franklin Park Mall. The Toledo-Lucas County Health Department warns that anyone who consumed any food or drink from the restaurant between March 1 through March 29 has been exposed to the virus and should get tested.  Dave and Busters has set up a phone line for people with questions or concerns at  is 844-344-94-44. Follow WTOL:   Download our app he...

    More >>
  • Fire destroys north Toledo home

    Fire destroys north Toledo home

    Friday, April 20 2018 6:03 AM EDT2018-04-20 10:03:09 GMT
    (Source: WTOL)(Source: WTOL)

    The homeowner was at work at the time of the fire. 

    More >>

    The homeowner was at work at the time of the fire. 

    More >>
Powered by Frankly