UK automotive supply chain plans investments of £225 million

In a new survey of over 200 UK supply chain member companies by the Society of Motor Manufacturers and Traders (SMMT), 94% said they planned to invest in their business over the next three years, totalling £225 million.

79% intend to invest in plant, machinery or tooling, while 73% will invest in skills and apprentices and 66% in new product developments.

The UK supply chain is significant to the wider UK automotive industry, consisting of 2,000 companies contributing £4.3 billion in value added direct to the UK economy. 41% of components in the average British-built car are sourced locally, up from 36% in 2011.

SMMT chief executive Mike Hawes commented: “Britain’s car industry is booming, exporting more than ever, and it’s encouraging to see this opening up huge opportunities for the UK supply sector. A strong domestic supply chain is critical to a successful automotive sector and we are confident that, with the right political and economic conditions, significant supply chain investment can be secured, delivering more jobs and growth.”

SMMT www.smmt.co.uk