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>> The clock is ticking toward Brexit, but because there's still no clear image of what a final deal between Britain and the EU will look like, the UK auto industry says the uncertainty is contributed to an alarming drop in new investment in that sector. On Tuesday, its main lobby group reported investment had halved in the first six months of the year and issued a fresh warning to the Prime Minister.
Keep the country inside the EU's Customs Union or risk a big shrink. Reuters Sarah Young is at the conference for the Society of Motor Manufacturers and Traders in London.>> Leaving the Customs Union would be a massive headache for car manufacturers. Ann Robertson the UK boss of BMW is here today said that BMW mini plant in Oxford brings in 5 million components a day.
That movement of components depends on parts being able to flow easily between didn't countries within the EU. So that all depends on the frictionless trade which is available within the Customs Union. So the bosses here are pretty worried about any threats or that.>> At stake is the future of one of Britain's few manufacturing success stories.
The industry is worth $110 billion and employs over 800,000 people. It's not the only industry weighing its options. Plane maker Airbus announced last week that it, too, could be forced to abandon the UK. And Gem and powerhouse Siemens also demanding clarity from the Government.