SMMT Open Forum urges UK suppliers to ‘actively pursue’ all opportunities

20 September 2012 #SMMT News

UK automotive suppliers should actively pursue every possible business avenue and opportunity that arises, ensuring they do what they can to facilitate discussions with vehicle manufacturers and have their voices heard in government.

This was the overall message delivered in the final speaker session at today’s SMMT Open Forum event, by Phil Davies, Automotive Analyst for the Department for Business, Innovation and Skills (BIS). Setting the scene for his presentation, Mr Davies provided further insight to the findings of the latest Automotive Council supply chain commodity survey that revealed more than £3bn of opportunities awaiting UK suppliers.

With more than £6bn of investment creating a wave of new prospects for the UK supply chain, Mr Davies emphasised that automotive suppliers need to pro-actively seek out this new potential, and he highlighted the importance of SMMT events such as ‘Meet the Buyer’ in facilitating new business opportunities.

Ian Henry, Director of AutoAnalysis, provided an update on current and future vehicle manufacturing trends in Europe. He highlighted recent, high-value investment in manufacturing facilities and R&D by a number of vehicle manufacturers in the UK, explaining how this can pave the way for a stronger automotive supply base.

Rounding off the session, Paul Everitt, SMMT Chief Executive discussed the need for a formalised industrial strategy to guarantee the long-term success of UK plc and the growth of the economy. He outlined six clear priority areas that a compelling automotive sector strategy should focus on, emphasising that a formalised strategy should look beyond the boundaries of a single party, receiving government-wide backing.

SMMT is currently accepting ‘expressions of interest’ for its next ‘Meet the Buyer’ event in 2013.

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