Make or break from Brexit for UK car sec­tor

Gloucestershire Echo - - MOTORING NEWS -

A NO-DEAL Brexit could cost the UK au­to­mo­tive sec­tor £50,000 a minute, ac­cord­ing to the So­ci­ety of Mo­tor Man­u­fac­tur­ers and Traders.

The SMMT says: “The sec­tor’s im­por­tance to the UK is cru­cial: over the past ten years, it has grown by 118 per cent to be­come a £101 bil­lion trad­ing pow­er­house, the sin­gle big­gest ex­porter of goods, trad­ing with some 160 coun­tries and ac­count­ing for 14 per cent of to­tal ex­ports.

“Al­though cars make up the ma­jor­ity, we also ex­port com­po­nents worth £5.2 bil­lion and £2.9 bil­lion for en­gines.

“A no-deal Brexit could un­der­mine the en­tire in­dus­try with de­lays at ports alone, adding up to £50,000 a minute cost for the sec­tor. Be­hind these num­bers are hun­dreds of thou­sands of jobs and liveli­hoods across the UK.

“How­ever, the right deal, com­bined with on­go­ing col­lab­o­ra­tion and an am­bi­tious auto-fo­cused trade strat­egy, could de­liver a £20 bil­lion trade boost.

“Cli­mate change, air qual­ity and ve­hi­cle safety are all global chal­lenges and the UK could be in pole po­si­tion to ex­ploit the op­por­tu­ni­ties these present.”

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