The UK’s membership of the European Union enhances trade opportunities for UK automotive businesses by leveraging the strength of the European trading bloc.
- Membership of the EU provides full access to a £15 trillion global market through 30 EU trade deals. The conclusion of ongoing trade discussions with Japan and the US could double this to £30 trillion.
- The collective bargaining strength of the EU helps reduce trade barriers with key global markets such as China, which are critical for the UK’s diverse automotive manufacturing base.
- A UK government commissioned report states that UK vehicle output could increase by up to 7.3% under TTIP, the Transatlantic Trade and Investment Partnership, currently being negotiated between the EU and the US.
