Honda has pledged to continue making and selling cars in its Swindon factory despite the string of uncertainties that the economy are facing over Brexit and a hammering of profits at the plant.
Honda, the Japanese car giant, has verbalised a bullish outlook regarding its future in the country despite noticing profits in its UK subsidiary drop by 21pc for the year to March 31, partially down to the recent slip in the pound.
That stands in firm contrast with its European arm, which in the subsequent days is set to reveal a profit surge of more than 100pc for the same period amid exports to the US, increased sales volumes, and the strengthening of the euro against the sterling.
However, the group stated that it remains “committed” to its sales and manufacturing activity in the United Kingdom, pointing to the £200m that was pumped into the factory in 2016 as proof.
That investment, which made the factory the global hub of Honda for the new five-door Civic, means that the site is exporting cars “to different global territories and is no longer solely reliant on the European market”, said Honda.
The Japanese group has placed £2.2bn into its Wiltshire base since it first started the branch in 1985, with the plant seeing production volumes grow by 30pc in the year to March as an effect of making the Civic five-door.
Its renewed commitment to the United Kingdom will come as a relief to many. In July, car sales dropped 9.3pc compared to the same month from a year ago. Sales have now decreased for six consecutive months.
A Honda spokesperson said that it would ask the government to continue dialogue with the European Union “to deliver a free and frictionless trading environment. This is central to our continued success in the European region as a whole.”