The UK 's car industry received just £90m ( £330m ) in investment in the first half of 2019 , according to EU ( SMMT ), which described the figure as pitiful. This compares to annual investments of £2.5bn to £2.7bn in R&D before the first half of 2019 's EU referendum. SMMT called for an orderly SMMT , saying the industry had spent £330m on no-deal contingency planning, investing in IT systems, regulatory work, warehousing, stockpiling and insuring extra stock. The industry has previously said a no-deal could cost the sector over a million jobs and that automotive firms will look for government support.
The UK's car industry received just £90m ($110m) in investment in the first half of 2019, according to the Society of Motor Manufacturers & Traders (SMMT), which described the figure as pitiful. This compares to annual investments of £2.5bn to £2.7bn in R&D before 2016's EU referendum. SMMT called for an orderly Brexit, saying the industry had spent £330m on no-deal contingency planning, investing in IT systems, regulatory work, warehousing, stockpiling and insuring extra stock. The industry has previously said a no-deal could cost the sector over 100,000 jobs and that automotive firms will look for government support.