Aston Martin worries about using Dover post-Brexit

Aston Martin fears Brexit-related border problems could leave it unable to use Dover to send and receive parts, a report says.

The British carmaker is examining contingency plans amid concerns that the port may not cope with the increase in red tape expected after the UK leaves the European Union.

It is considering relying more on air transport, particularly from Coventry and Birmingham, which are closest to its Gaydon plant.

It is also considering using the port of Sunderland instead of Dover.

Chief (Taiwan OTC: 3345.TWO - news) executive Andy Palmer told Reuters: "The European-sourced parts, which include the engine and the gearbox as a complete assembly, come back in from Europe so an alternative port is one way, predominately for lorries, and then reserving space on aircrafts for one-off shipping.

"You can get a few days of engines and gearboxes relatively easily into the cargo decks of a plane so whilst it's relatively expensive that is probably our primary backup."

Currently the British firm only uses air transport as an emergency.

Mr Palmer said any plans would need to be signed-off by the company's board by the end of the year.

With (Other OTC: WWTH - news) talks between the UK and EU moving slowly, those decisions may have to be made with little knowledge of what post-Brexit trading will look like.

"There is undoubtedly a cost associated with it, but it's cheaper than not building cars," Mr Palmer said.

Aston Martin's car approvals were switched from the British vehicle agency to its Spanish equivalent earlier this year and Mr Palmer said the company's next model - the crossover DBX - would also be approved in Spain.

He told Reuters: "You're forced to make a change, once you set in place a process, you tend to stick with that process
because it works."

Earlier this month, Aston Martin became the first British carmaker to list on the London Stock Exchange (Other OTC: LDNXF - news) but its shares skidded following the debut .

It was initially valued at £4.3bn or £19 a share but today is at around £14.50 a share.

The company, famous for making James Bond's cars - last year made its first profit since 2010.

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