British car makers plan to create 85,000 jobs in next two years as they look to post-Brexit future

BRITISH car makers plan to create 85,000 jobs in the next two years despite post-Brexit fears, a report says.

Some 87 per cent of the 3,184 firms in the supply chain plan to take on staff, at an average of 31 each, LLOYDS BANK found.

3

It also said that, regardless of last June’s EU quit vote, more firms were planning to target western Europe — 65 per cent, compared to 61 per cent a year ago.

More will look to North America for business — 53 per cent, up from 46 per cent a year ago.

A total of 64 per cent will develop electric or low-carbon cars in the next two years, 12 per cent up, the report added.

3

The jobs boost will calm fears for the sector, amid a potential takeover of VAUXHALL by PEUGEOT’S French owner, which could lead to UK job losses.

There are also concerns Brexit will lead to higher tariffs for UK car makers, making their vehicles more expensive.

RELATED STORIES

'LIES TO MAKE EXTRA CASH'

Surgeon 'needlessly butchered patients after claiming their lives were in danger from non-existent cancer and tricking them into having healthy breasts removed'

SEX COP SACKED

Female PC who had sex with rape victim in McDonald's loos who she was meant to be supporting is sacked

'FULL TILT' TO BREXIT

Boris Johnson insists UK will strike 'fantastic' EU deal but admits there may be 'bumps in the road'

fat cat keeps the cream

BHS tycoon Sir Philip Green could keep knighthood 'for years' despite Commons vote

David Atkinson, head of manufacturing at Lloyds Commercial Banking, said cars “remain the UK’s largest manufacturing export sector”.

He said the industry was looking to the future and eager to put any Brexit-related “uncertainty” behind it.

Mike Hawes, boss of the SOCIETY OF MOTOR MANUFACTURERS AND TRADERS, described as “encouraging” the report’s finding that firms were seeking opportunities to “future-proof their businesses in the hiatus before we leave the EU”.

3

He said there were “good reasons to be positive”.

He said the UK had “world-class” manufacturing facilities, a highly-skilled, flexible and productive workforce, and an “ever-growing ecosystem of suppliers and services”.