Published June 2012
This timely and important report is based around a unique in-depth survey of 82 automotive firms operating at all levels in the UK supply chain and employing 18,500 workers. It shows that despite the economic gloom, there is a prodigious ‘window of opportunity’ to create thousands of new jobs in the fast growing automotive supply sector. Expanding the sector will not only support further development of the UK’s multi-billion pound motor industry, but also make a significant contribution to re-balancing the national economy and boosting growth in under-performing regions. However, as this report makes clear, that potential is currently being thwarted by a serious lack of finance, notably from the banks who on the whole have a poor understanding of the sector. The survey, interviews, company profiles and case studies offer a unique insight into what is holding back the sector and provide an evidence base for a more positive dialogue between the automotive supply chain, vehicle manufacturers, the financial community and government. In light of the report’s findings, the author offers a package of practical recommendations, including proposals to enable more finance for tooling, better training, and improvements to government backed schemes.