Britain’s car industry has stressed that it is ‘business as usual’ despite the challenges of coping with the Brexit vote.
"This is not the result that the car industry hoped for, but the industry must now move to make the change as smooth as possible," says SMMT CEO Mike Hawes.
The announcement comes just hours after the SMMT published last year's industry figures, revealing how strong growth was before the EU referendum.
Speaking at the SMMT’s annual automotive summit, Hawes said: "We face some short-term uncertainty and the future of the car industry is of acute concern, but at the moment the industry is in a very healthy condition and it’s business as usual."
The SMMT has identified three key areas where trade negotiations with the EU must be successful: competitiveness, access to the EU market and access to an international talent pool.
"The European market is important, but we are a balanced business and export 80% of our production and we are committed to Britain," said Hallmark.
JLR employs 40,000 people in the UK.
"We have coped with recessions and various problems over the years and Brexit is just another problem we will have to rise to and overcome," he added.