Brexit: SMMT adds weight to ‘Remain’ campaign

The car industry has this week clearly stated that remaining in the EU is important for the future of the industry, just days before the referendum is to take place.

Dated 20 June 2016, a statement from the Society of Motor Manufacturer and Traders (SMMT) has made a clear argument for Britain remaining in the EU and has included statements to that effect from leading figures in the industry, including representatives from some of the world's largest car firms.

Whichever way the vote goes on 23 June 2016, it's important for motor traders to continue to provide high levels of customer service, and part of this is making sure they have up-to-date motor trade insurance in place.

The SMMT's statement points out that the automotive industry employs 800,000 people in the UK and adds £15.5 billion to the economy each year. It states that 77 per cent of SMMT members firms support the UK remaining part of the EU. A 'remain' vote would be "best for its business and best for British jobs", according to the statement.

Spelling out why the trade links with the EU are so important, the SMMT points out that 57.5 per cent of the exported vehicles manufactured in the UK each year head to other EU countries.

Mike Hawes, the chief executive of the SMMT, said: “UK Automotive is globally competitive, securing record levels of investment, creating tens of thousands of jobs annually and exporting to over 100 countries. 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. Remaining will allow the UK to retain the influence on which the unique and successful UK automotive sector depends.”