Iconic British carmaker Aston Martin could be forced to stop production should the UK fail to get a Brexit deal.

Mark Wilson, its finance chief, warned that if some of the finer points of the current arrangements were not replicated it could be “catastrophic” for the British car industry.

Under current laws, all new cars made in the UK must have Vehicle Certification Agency (VCA) approval, which is valid in the EU.

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But under a ‘no deal’ scenario, that validity would cease for new cars from March 2019 – casting doubt on the short-term future for the whole motor industry.

Wilson said Aston Martin said it would have the “semi-catastrophic effect of having to stop production”.

He added: “We’re a British company. We produce our cars exclusively in Britain and will continue to do so.

“Recertifying to a new type of approval, be that federal US, Chinese or even retrospectively applying to use the EU approval, would mean us stopping our production.”

Wilson, who was among a number of motor industry executives giving evidence to MPs on the Business, Energy and Industrial Strategy committee, said the company would face a “stark picture” and a substantial bill from both stopping factory work and seeking regulatory approval in another country if the current system ended.

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Mike Hawes of the Society for Motor Manufacturers and Traders said certification was also important for European carmakers. About seven in 10 vehicles sold in the UK come from the EU.

He warned that should Britain walk away without a deal, the public could see price increases of around £1,500 per vehicle.

World Trade Organisation rules, the default position after no deal, apply tariffs of 10% to finished automobiles.

Patrick Keating, Honda Motor Europe’s government affairs manager, told MPs it would take his company 18 months to get its systems ready for new customs procedures for exporting to Europe.

He said Honda imported two million components every day from Europe on 350 trucks and had just one hour of stock on its shelves.

All three executives called for clarity on a transition deal with the EU.

Free trade agreements require that about 60% of goods must originate from within the countries making the agreement.

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Mr Hawes said: “The average car made in the UK has 44% of its components from UK suppliers.

“How much of that 44% actually comes from the UK, bearing in mind those suppliers are buying in supply chains from all over the world?

“The figure is more like 25%, which is a long way from the 60% threshold you would need to qualify for a free trade agreement.”