First reactions after the Brexit vote
On 23 of June 2016, a majority of British citizen voted in favour of the Brexit. This move will have deep consequences on the automotive industry in Europe in general and in the United Kingdom in particular.
For Mike Hawes, Chief Executive of SMMT (British association of the automotive industry), the priority is to “maintain economic stability and secure a deal with the EU which safeguards UK automotive interests. This includes securing tariff-free access to European and other global markets, ensuring we can recruit talent from the EU and the rest of the world and making the UK the most competitive place in Europe for automotive investment”.
For Matthias Wissmann, President of VDA (German association of the automotive industry), “it is more important than ever for Europe to stand together to avoid a possible domino effect. Every possible measure must be undertaken to enable the continued free movement of goods and services between the UK and the other EU countries. And even after leaving, free exchange of goods with the Continent will still be to Britain’s net advantage”.