The UK’s membership of the European Union provides automotive businesses with unrestricted access to the world’s largest single market, stimulating billions of pounds of investment in the UK
- The UK’s thriving new car market and the country’s position within the EU help make it an attractive place to invest and since 2013 more than £8 billion worth of funding has been allocated to automotive operations here.
- British automotive manufacturing employs 160,000 people and produces more than 2.3 million engines and 1.5 million cars each year. Around 80% of UK vehicles are exported to more than 100 countries, with more than 50% shipped to the EU – our biggest single trading region.
- The UK automotive supply chain is fully integrated across the EU. While efforts to increase local content are delivering, in 2012 63% of UK supply chain spend was sourced internationally, with the majority of suppliers located within the EU.
- Being part of the single market provides huge consumer choice with 350 different vehicle ranges available in the UK. In 2014, 72.4% of the 2.47 million new cars registered in the UK were imported from Europe, free from costly tariffs.
