Investment in the UK’s motor industry has halved because of uncertainty over Brexit, according to the sector’s trade body.
New data from the Society of Motor Manufacturers & Traders (SMMT) showed that just £347.3m was spent on new models and factories in the first half of the year. In the same period last year, the figure was £647.4m.
The research comes as the car industry meets in London for its annual summit, where the impact of Britain leaving the EU will top the agenda.
Mike Hawes, chief executive of the SMMT, said that car companies needed clarity from Government about what Brexit will look like.