Automotive industry in European

"This report, and our member survey, suggests that Britain's EU membership is fundamental to financial investment, development and tasks in automotive businesses of all sizes."

The SMMT said the present popularity of the UK car business was boosted by its usage of the single market.

Hawes said: "If we tend to be to steadfastly keep up this position and increase accessibility growing worldwide areas, the united kingdom must play a key role in shaping EU policies, spending plans and laws."

Almost 70% of companies surveyed said a Brit exit from the EU would had a bad impact on their particular company within the medium to long run.

Michael Fallon, company minister and conventional MP, said there was clearly no research that his party's recommended referendum on EU membership ended up being causing uncertainty among businesses.

"I have maybe not run into the doubt as industry minister, " he stated. "We have perhaps not seen any hazard to financial investment. We are one of many major centres for foreign direct investment. We get more of it to the UK than just about any various other country in European countries, and we also wouldn't get that if individuals believed we were regarding the brink of leaving.

"The actual only real proof that doubt would be if investment began to decrease or fall away. There's no proof of that at all."

SMMT users said one of many significant advantages to industry of belonging to the EU was the capability to move people around effortlessly and deploy abilities across the region to meet up with neighborhood requirements at short notice.

"The automotive businesses we spoke to also look at EU as an essential negotiating force in worldwide trade negotiations, " said John Leech, KPMG's UK mind of automotive.

"furthermore, research and development, that is vital to the united kingdom's power to be during the forefront of innovation in-car manufacturing, is both heavily funded because of the EU and requires usage of the expertise and free action of skilled designers within the EU".