Mike Hawes, SMMT Chief Executive:
“For the automotive industry, Brexit is about damage limitation. The outline agreement is a positive step in avoiding the devastating consequences of ‘no-deal’ and securing a transition period. It is, however, only a first step and business seeks certainty and ambition when it comes to securing a competitive future. Truly frictionless trade is the only way to ensure the industry’s future success, and this should be the objective for all parties as we move into negotiating the permanent UK-EU relationship.”
About SMMT and the UK automotive industry
The Society of Motor Manufacturers and Traders (SMMT) is one of the largest and most influential trade associations in the UK. It supports the interests of the UK automotive industry at home and abroad, promoting a united position to government, stakeholders and the media.
The automotive industry is a vital part of the UK economy accounting for £82 billion turnover and £20.2 billion value added. With some 186,000 people employed directly in manufacturing and 856,000 across the wider automotive industry, it accounts for 12.8% of total UK export of goods and invests £3.65 billion each year in automotive R&D. More than 30 manufacturers build some 70 models of vehicle in the UK supported by 2,500 component providers and some of the world’s most skilled engineers.
More detail on UK automotive available in SMMT’s Motor Industry Facts 2018 publication at smmt.co.uk/facts18
Broadcasters: SMMT has an ISDN studio and access to expert spokespeople, case studies and regional representatives.
SOURCE: SMMT
