UK: pro-European automakers forecast reduced risk from possible “Brexit”

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The UK has been a thriving production base for both local and foreign automakers and all of them are strongly rooting for the country to remain a European Union member as the block has created massive business opportunities.

But they also claim they would not cease production if the country decides to leave the European Union, though executives warn that future investments would most likely be reconsidered. Prime Minister David Cameron is rooting for a referendum on British EU membership and the affiliation to the 28-country trading block before the end of 2017 – though most experts believe the vote could be organized as soon as 2016. The politician itself has pledged his support to the EU membership but only if he can modify the current agreements the country has with the European Union – but the opposition leader has given mixed signals on the UK’s allegiance, which highlights the uncertainty about the country’s so-called “Brexit” – the decision to leave the EU.

As far as the country’s automotive industry is concerned, they have a pretty clear stance: they want the UK to remain an EU member and supporters have also signaled that a Brexit would lead to job losses in an industry sector with almost 800,000 employees. Britain is home to some of the most popular luxury brands – Bentley and Rolls-Royce and the executives at both carmakers said they have no intention to abandon the country. And even US-owned maker Opel, which uses the Vauxhall brand in Great Britain said the uncertainty would make them abandon the local factories – though all of them warned that maintaining their access to the markets was adamant.

Via Automotive News Europe