Some grey nomads face the pinch, but ...

Aussie caravan industry escapes Brexit turmoil

By Dennis Amor
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THE peak body for Australia's caravan industry believes Britain's decision to quit the European Union will have little effect Down Under.

"In the short term, we wouldn't expect any dramatic impacts to the sale prices of European-built RVs here in Australia," Caravan Industry Association of Australia chief executive Stuart Lamont told Caravanning News.

But the falling value of the pound in the wake of Brexit is already hitting many Aussie grey nomads who rely on pensions and other assets in the UK to boost their income.

Caravanner Ben Shardlow told us he he would be losing several hundred dollars a month and this would seriously reduce his travels and spending power.

Around 30 percent of RVs registered in Australia, including second-hand caravans, are primarily imported from the UK, Europe, China and the US.

Analysts have warned that Australia will not be immune to the Brexit fallout, predicting periods of uncertainty and instability.

But Mr Lamont said the Euro was remaining "relatively stable" with the Aussie dollar.

"It is important to note that although the UK has voted to leave the EU, no changes in policy regarding trade or manufacturing have occurred ... so it is business as usual for the RV sector in Europe."

German caravan industry association CIVD had stated that any UK exit from the EU would have a relatively low impact on the European markets.

"Their imports and exports account for only a small percentage," Mr Lamont explained.

"At most, a very slight slowdown would be conceivable in terms of manufacturing.

"For any Australian RV manufacturers importing from the UK, the drop in value of the British pound to the Australian dollar may provide increased value.

"However, we will need to closely examine how the EU manages the economic policy of a prolonged and potentially acrimonious separation of the UK from the trade bloc.

"If the process occurs and is lengthy, it may lead to a drop in government, business and consumer confidence throughout Europe which may have far reaching impacts on foreign currency and global economies, including Australia's."

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