IMI questions Leave campaign
The Institute of the Motor Industry (IMI) is asking the Leave campaign to explain how it will protect independent garages post Brexit. It’s concerned of the impact should the EU Block Exemption Regulations be lost if Britain leaves the EU.
A leading academic has advised the IMI that the cost of car servicing and repairs could rise by 30%, and up to half of the estimated 40,000 independent service and repair businesses could go bust if Britain votes to leave the EU.
Professor Jim Saker of the School of Business and Economics at Loughborough said many of the 500,000 jobs and businesses in the sector it represents could be at risk after Brexit. He added that the main issue comes from the possible loss of the EU Block Exemption Regulations. Without the ‘Right to Repair’ scheme, Saker believes that manufacturers will not share information on new cars if they don’t have to, making it impossible for independent garages to maintain their businesses.