The Society of Motor Manufacturers and Traders, which represents the UK automotive industry, has said it is ‘overwhelming in favour’ of remaining in the EU.
According to officials, 80% of vehicles made in the UK are transported abroad and over half of those (57.5 percent) are sent to the EU. Unrestricted access to the world’s largest single market and free movement of labour are some of the benefits given to UK businesses that the automotive industry would like to maintain.
“We want this success to continue rather than jeopardise it by increasing costs, making our trading relationships uncertain and creating new barriers to our single biggest and most important market, Europe,” said Mike Hawes, SMMT chief executive. 'Remaining will allow the UK to retain the influence on which the unique and successful UK automotive sector depends.'
The UK automotive industry currently employs 800,000 workers and contributes £15.5 billion annually to the UK economy.
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