Responding to Brexit and difficulties with European shipping customs, GTO Parts, the components arm of the leading GTO Engineering Ferrari specialist, has on Tuesday announced the establishment of an Italian entity.
A press release from the company said that it will open premises in Modena, Italy, during the Q2 of this calendar. However, the company will retain its headquarters in the UK and its Los Angeles, USA based, though GTO Engineering and GTO Parts will have a new outfit in Modena, synonymous with Ferrari and classic Italian cars.
According to the company, GTO Parts’ Modena base will be home to an array of off-the-shelf components sourced and manufactured by GTO Engineering, as well as a European base for inventory to be received and shipped from its customers and suppliers.
It will help the company reduce delivery waiting times and create complete transparency of shipping and duty costs for European clients to receive a range of original and OE-manufactured specialist components.
Mark Lyon, Founder and Managing Director, GTO Engineering, said, “We’ve been wanting to open an Italian base for GTO Engineering and GTO Parts for a long time. Being Ferrari specialists and focusing on Ferrari and other Italian marques for parts, it is a natural progression for the company. We know that we are not alone with the frustrations of shipping, customs and duties for items sent from the UK to Europe post-Brexit. Our response has been to invest in a new base for our company to help reduce some of the hassle and confusion for our customers, and also to source parts from European sellers. We will now be able, with clarity, to confirm the exact duty to be paid and ensure only one set of VAT/taxes will be applicable, compared to our current predicament that duties are paid by European clients on receipt of items sent by us from the UK.”