UK car success under threat by Brexit, says industry

Wednesday, September 28th, 2016 - autos, cars, motoring, news

Source : UK car success under threat by Brexit, says industry

UK car success under threat by Brexit, says industry Promising car production statistics hide a longer-term worry for the British car industry post-Brexit, says SMMT boss Mike Hawes

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Strong British car manufacturing figures are all very well, say UK car manufacturers, nevertheless they don’t mean expected challenges posed by Brexit are over.

Read more about the promising production figures here

Speaking during an event at the Eiffel Tower, where eight completely new British cars were displayed on the eve of the Paris motor show to underscore the UK’s recent healthy car export performance, the chief executive of the Society of Motor Manufacturers in addition to also also Traders, Mike Hawes, warned that will the success had come entirely during pre-referendum trading, nevertheless that will the industry could not depend on the same business environment in future.

“Recent headlines have suggested that will Brexit can be no problem,” Hawes told an audience of industry leaders that will included Minister for International Trade, Mark Garnier. “Even our own figures – 900,000 cars exported so far This particular year – paint a picture of a strong in addition to also also vibrant industry.

Read about the UK’s registrations in August here

“nevertheless these results have come about because around £10 billion has been invested in our industry over the past all 5 years. the idea was a huge help with product development in addition to also also with R&D. in addition to also also best of all, we were – in addition to also also still are – from the single market.”

Hawes explained that will the industry had become deeply concerned about future conditions since the referendum. There was a danger of investment “leaking away”, he said, because investors were less confident of the future. The SMMT saw “a window” between at This particular point in addition to also also the start of Brexit negotiations early next year to get its message across in addition to also also intended to take advantage.

Read about Ford’s Bridgend investment cut here, in addition to also also MG’s withdrawal by UK production here

The major initiative, said Hawes, was to encourage the government to do everything possible to preserve current trading conditions by staying from the single market. There was a clear distinction between having access to the single market, he said, in addition to also also actually being from the idea. “All our advice points one way: you’re either in the single market or you’re not,” he added.

The SMMT had looked carefully at deals negotiated by some other countries on the fringes of the EU – Norway, Turkey in addition to also also Switzerland – in addition to also also found that will none would likely offer the market conditions that will had helped to bring the UK its automotive success from the past all 5 years. “the idea’s imperative that will the government remembers This particular when negotiating,” said Hawes. “the idea’s the key to everything.”

Will Vauxhall withdraw by UK production? Read more

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