The British people have voted to leave the European Union following the EU referendum last night.
The result has caused an immediate reaction both in Europe and the markets, and the government must now work quickly to ensure economic stability over the coming weeks and months as part of the UK’s political and economic negotiations with the EU.
Wendy Williamson, the chief executive officer of the Independent Automotive Aftermarket Federation (IAAF) said: “We do not envisage any immediate impact on the UK aftermarket and will continue to work closely with our colleagues throughout Europe to see what this result means for the UK independent aftermarket and the automotive industry as a whole.
“After further exploration of this political restructure, we will analyse the affect it may have on current legislation and keep all of our members updated with the latest information at every opportunity.”
Meanwhile, the Society of Motor Manufacturers and Traders (SMMT), the trade body for the UK automotive industry, reacted earlier to today’s result in the referendum on the UK’s membership of the EU.
Mike Hawes, SMMT Chief Executive, said,“The British public has chosen a new future out of Europe. Government must now 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.”