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New figures released by the Society of Automobile Manufacturers and Traders SMMT show the car industry in the UK has increased profits from 7 3 and added 17,000 jobs last year, revealing the strength of the industry Great Britain before the EU referendum vote.
Vehicle production increased by 5 to 1 2 7 million units has been reduced while the environmental impact of the industry 24 2 as increased recycling and reducing landfill waste.
The turnover amounted to 71 6 billion in 2015 and the total number of people employed in the automotive sector in the UK has reached 814,000, with 169,000 involved in the direct manufacture of cars 8000 over the previous year.
The investment reached a new record with 2 5 billion injected into the industry a figure which represents 12 research and the total development of the country pass, emphasizing the importance of the automotive industry on the economy.
Unsurprisingly, the SMMT figures used to urge the British Government to maintain free trade agreement with Britain with the European Union to Brexit on.
SMMT chief executive Mike Hawes said the British motoring success was achieved thanks to its access to the single market of the EU, he warned that the start of EU UK could hurt growth future.
Our growth depends on the certainty and open and reciprocal continued market access to over 100 with which the automotive industry in the UK and trade successfully, he said is not only cars but finished components, technology and the wider automotive value chain all the risks and uncertainty of these fundamental benefits should be treated head by the Government of the United Kingdom.
Brexit supporters argue that the UK buys as many other European countries cars that the EU will accept a free trade agreement in order to preserve jobs in countries such as Germany, which exports about one fifth of its cars in the UK.
Matthias Wissmann, president of VDA, the association of the German automotive industry, has said keep Britain in the EU is more important than keeping Greece in the euro.
Nigel Farage said in a European Parliament meeting yesterday that he believes that Europe needs the United Kingdom over the UK needs Europe and refers to the high demand in Britain for German cars .
However, the latest figures from the SMMT suggest maintaining a free trade agreement with Europe will be important to maintain growth The period of uncertainty following Brexit before any potential deal can be struck is when most damage is likely to be done.
Insiders therefore predict a slowdown in growth following the outcome of the referendum, although the exact effects aren t likely to be known until the next SMMT publishes figures from the auto industry in the UK.
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