April 2014
Featured in this insight: Automotive, Manufacturing, engineering & industrial
Majority of automotive companies want the country to stay within the European Union: The majority (92%) of companies operating in the British car industry want the country to stay within the European Union, with access to the single market deemed fundamental to the sector’s success.
The survey, conducted by trade association the Society of Motor Manufacturers and Traders (SMMT) also found that seven-in-ten (70%) are concerned that a withdrawal would damage their medium to long term futures.
Despite the support, SMMT members said they did want to see reform of the 28-member bloc, with many regulations seen as too complex and likely to undermine international competitiveness.
SMMT Chief Executive Mike Hawes said:
“The position of the UK automotive industry is clear - being part of a strong Europe is critical for future success… The recent success of the UK automotive sector is due to its global competitiveness; competitiveness that is enhanced by a supportive business environment at home and access to the huge single market.”
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