Britain's car trade could benefit from no-deal Brexit, says head of Aston Martin

The head of Aston Martin has said Britain's car trade would benefit from a

The head of Aston Martin has said Britain's car trade would benefit from a no-deal Brexit.

Andy Palmer, CEO of the car giant, said any tariff barrier that came in would "even itself out" and Britain's exports would get a boost if the pound fell in value.

It comes as Aston Martin announced plans to float on the London Stock Exchange next month.

Mr Palmer told BBC Radio 4’s Today programme he wasn't afraid of the UK leaving the European Union without a deal, and that his company is "impervious" to such changes.

He said: "If a tariff barrier went in place it would even itself out, and we would probably benefit from a weaker pound.

"The benefit of investing in Aston Martin is insulation from these macro-changes.

"We import and export cars everywhere - we know how to export and get across borders."

He added that the car maker was increasing its stock of engines in case there are any issues after Brexit.

Aston Martin, which is known for making James Bond's favourite cars, said it will begin selling a new model, the DBS Superleggera, later this year.

The news comes after British companies were told last week they needed to prepare for a no deal Brexit.

Dominic Raab, the Brexit Secretary, told businesses what they must do to get ready in the event we don't come to a deal with the EU by March 2019.

Mr Raab said the Government “stands ready” to deliver Brexit for the British people in the event of no deal.

“By managing and mitigating the risks, by rising to the challenges and by seizing the opportunities that lie ahead,” he said.