Car industry hits ‘red alert’ as investment drops by £2bn in three years

Jack Peat - 31 January 2019

Investment in the UK car sector has dropped by almost £2 billion in three years as Brexit fears put firms on “red alert”, the industry’s trade body said.

In 2015, car manufacturers invested £2.5 billion in the UK. Since then it has fallen ever year and in 2018 was just £589 million.

The Society of Motor Manufacturers and Traders (SMMT) say the fall-off in inward investment is down to Brexit uncertainty, which has “done enormous damage” according to SMMT chief Mike Hawes... See more