The head of the German automobile industry, Matthias Wissman, has written for a German newsparer saying that it would be mission impossible because Britain and the EU would face "massive negative effects" if we leave the single market (HERE).
Some 57 per cent of the cars made in Britain are purchased by buyers in the rest of the EU. The next largest market is the US (12 per cent), followed by China (7 per cent).
In October, Matthias Wissmann warned that the UK leaving the single market could force companies to move their business elsewhere. His comments marked the first time a senior figure in the German car industry publicly outlined the consequences from a change to Britain’s trading arrangements with the EU.
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