More British components used in UK vehicle manufacturing - Auto Council report
Tue 17 March 2015
View all news
New research published by the Automotive Council shows that in 2014 British component-makers sold 19% more products to UK vehicle producers than the year before with around one third of the components in a UK-built car domestically sourced.
The report entitled Growing the Automotive Supply Chain - The Opportunity Ahead, compiled and published by the Automtoive Council, assessed the capacity for British suppliers to increase local supply of components that are currently imported to 60 per cent, a figure similar to other European countries including France, Germany, Italy and Spain.
The report claims much of this success is attributable to UK Trade and Industry’s Automotive Investment Organisation (AIO), established in 2013 to encourage greater foreign investment into the UK automotive sector. Since its inception, AIO has secured or created more than 10,000 jobs, and delivered more than £768 million investment into the UK supply chain.
Business Secretary Vince Cable said: Our automotive industry has seen a resurgence in recent years and that success means work of some £1 billion has returned to the UK. This is testament to the strength and capability of our supply chain manufacturers and will no doubt lead to new jobs and further growth."
British car production has increased by more than 50% since 2009 thereby creating new opportunities for domestic suppliers. The report also identifies a further £4 billion per year opportunity for UK automotive suppliers to expand their business in the coming years.
The LowCVP report, Investing in the Low Carbon Journey, published alongside last year's Annual Conference showed how a consistently applied policy focus on low carbon has resulted in strong investment, production and growth in the automotive sector. The report highlighted the need to develop the UK automotive supply chain in order for the UK to gain maximum benefit from the UK's low carbon automotive transition.
Related Links
< Back to news list