Automotive industry hopes pro-Europe push can put Remain in pole position
JAGUAR LAND ROVER has reiterated its support for the UK’s continued place inside the European Union by backing a statement from a major automotive industry body.
The Society of Motor Manufacturers and Traders (SMMT) has previously surveyed its members and found that more than three-quarters believed remaining in Europe would be best for their business.
The automotive industry is widely recognised as one of the country’s big successes over the last decade, having come out of the recession stronger, more productive and more competitive with strong claims to be a global player.
In the West Midlands, that is embodied by the success of Jaguar Land Rover. Its chief financial officer, Ken Gregor, said: “Remaining in the EU – our largest market – will increase Jaguar Land Rover’s chances to grow, create jobs and attract investment in future technologies.
“Our European supply chain has been fundamental in helping us to meet customer expectations worldwide and achieve sustainable, profitable growth.”
The automotive industry supports 800,000 jobs across the UK and contributes £15.5bn annually to the economy. It is export led, with around 80% of vehicles heading abroad and over half of those destined for the rest of the EU.
SMMT chief executive Mike Hawes 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.”
Senior figures from Toyota Motor Manufacturing UK, BMW AG, Vauxhall, GKN and Magal Engineering also supported the push by the SMMT, just days before Thursday’s referendum.
