UK auto industry backs remain vote ahead of EU referendum

According to a survey of members of the Society of Motor Manufacturers and Traders – a range of small, large and medium-sized organisations – an overwhelming majority of 77 per cent are in favour of remaining in the EU, with only a minority 9 per cent saying leaving would be best. Notably no large company said that an exit would be in their business’ best interests.

The sector supports 800,000 jobs across the UK and contributes £15.5 billion annually to the economy. Vehicle production is currently at its highest level for over a decade and exports at record levels (around 80 per cent of vehicles produced are exported and more than half of these are destined for the EU).

According to the SMMT, unrestricted access to the world’s largest single market, the negotiating strength of the EU to secure international trade deals, the ability to shape technical regulations and free movement of labour have all been major factors in this success.