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Volkswagen Group Brexit Statement

Posted on 14 Oct 2019

2 min read

Volkswagen groups statement regarding Volkswagen, SEAT, SKODA and Volkwagen Commercial.

“In the event that the UK leaves the EU without an agreed transitional deal (a “Hard Brexit”), all vehicle imports into the UK from the EU are expected to be subject to tariffs.

Earlier on this year, we varied our agreement with you (for the supply of Volkswagen, SEAT, SKODA and Volkswagen Commercial Vehicles vehicles (whether directly or via our authorised dealer acting as our agent) with the exception of any “buyback agreements” (whereby we commit to buyback the vehicle from you), such variation is reproduced at Appendix 1, (the “Brexit Addendum”). Our agreement as amended by the Brexit Addendum is the “Agreement”. All defined terms used within this letter shall have the meanings assigned to them within the Agreement, unless expressly defined otherwise.

In order to provide clarity and confidence to you at this time of uncertainty, Volkswagen, SEAT, SKODA and Volkswagen Commercial Vehicles can confirm a variation to the Agreement. With immediate effect, orders confirmed and customer-tagged up to and including the earlier of:

• 17.30 on the date of a Hard Brexit;
• 17.30 on 31 October 2019; and
• The date of the expiry of this price protection offer as advised by one of our Brands in a subsequent communication,

(The “Validity Period”) will be price-protected. Any quotations not converted into confirmed and customer-tagged orders during the Validity Period will not be honoured. In such an event, the price current as at the date of dispatch from the relevant Brand will be the price payable.

By continuing to place orders for Vehicles, you agree to the terms of this letter (which serves to vary the Agreement(s). In the event and to the extent of any conflict between the terms of this letter and the Agreement(s), the contents of this letter shall prevail in respect of its subject matter. Except as varied by the contents of this letter, the Agreement remains in full force and effect.

We appreciate that current conditions are subject to volatility and many unknowns, however we believe the price protection our Brands are offering will help to mitigate this as far as possible and give you certainty in these uncertain times.”

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