Concerns in the automotive sector over future tradepublished at 11:04 Greenwich Mean Time 17 January 2017
International Trade Committee
Select Committee
Parliament
The Society of Motor Manufacturers and Traders chief executive Mike Hawes has been answering the lion's share of the questions this morning.
He says that the UK is currently the most productive place in Europe to make cars but tells MPs that it is an extremely competitive industry, especially on the manufacturing side, which runs on "wafer thin" margins.
Any additional costs therefore; either from tariffs or additional bureaucracy, would add time and costs to the industry.
Mr Hawes says that the current competitiveness of the UK industry is based on certain building blocks, and references Theresa May's upcoming Brexit speech this morning by saying that "it seems that some of those are going to change".
He warns that the UK needs to retain current competitiveness "or we will lose out".
Mr Hawes also responds to a question about looking beyond the EU for new markets by saying that although the industry already does this - there is a "massive market on our doorstep and we are totally integrated in it".