Motorcycle Industry Association (MCIA) reacts to Brexit

MCIA reacts to Brexit
The MCIA has issued a statement in response to the result of the EU referendum.

According to the MCIA, a vote to leave presents the UK with new opportunities.

Despite admitting that what comes next will remain an unknown for the time being, there is plenty of optimism in the statement.

The MCIA statement says: “Question marks over what will replace the EU in terms of foreign business and trade relations will take an unknown period to conclude.

“In the long term, frameworks will be created and a more stable environment will emerge.”

The MCIA also says Brexit gives the UK motorcycling sector more influence over government when it comes to legislation.

The MCIA statement reads: “A key benefit for our sector is that we will have much more opportunity to directly influence how the Government legislates and behaves in relation to the UK motorcycle industry and motorcycling in general.”

Attempts to reassure

Overall, the MCIA statement is supportive and reassuring, despite the fact that it was in support of remaining in the EU before the referendum took place.

The MCIA said: MCIA will evolve to help its members meet these new challenges, maintain its relations with European bodies and create new ones with other trading blocs.

“This will ensure that going forward our sector has the knowledge and expertise to ensure members can maximise the unexpected new range of opportunities now presented to the industry.”

But despite the positive outlook, the MCIA seems in no doubt that Brexit has already damaged the industry.

The MCIA said: In the immediate short term it is to be hoped that a weakened pound and unpredictable interest rates do not overly damage the sector’s positive recovery over recent years.”

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