Motorsport to Automotive - UK suppliers need to register on SMMT Automotive Supplier Finder to attend major sourcing event on July 3rd
02 May 2012
UK vehicle manufacturers seek to source commodities from UK suppliers for new model production. Significant new business opportunities for UK suppliers created by major automotive buyers
Over £4.5 billion investment in UK automotive facilities, over the past 18 months, creates new business opportunities for UK component companies, as OEM vehicle manufacturers look to source commodities for their new model production.
The UK supply chain can provide more than 80% of all components required for UK vehicle assembly. Currently, OEMs buy between 60 -75% of their national production value within the UK. Recent major investments, creating thousands of jobs at vehicle plants, means, in turn, thousands more can be employed to meet high-value contracts from OEMs and suppliers. It is estimated that one job in vehicle production supports over seven in the supply chain.
Increased OEM demand for UK-manufactured automotive products optimises UK supplier growth. SMMT helps these opportunities by facilitating one-to-one buyer and supplier meetings, based on automotive commodity demand , at its ‘Meet the Buyer’ events.
The annual publication of UK automotive commodity demand helps match OEMs with UK suppliers. For 2012, plastic injection-moulded components, trim interiors, vehicle upholstery, forgings and stampings are amongst the most highly sought-after components.
In 2011, four nationwide ‘Meet the Buyer’ events hosted 400 one-to-one meetings between buyers and suppliers and more than 80 automotive commodities.
The 2012 ‘Meet the Buyer’ event will take place on 3 July in the West Midlands. All interested buyers and potential suppliers are encouraged to register their interest early and ensure company profile details on the SMMT Automotive Supplier Finder database are up-to-date.