A new poll of SMMT supply chain (Automotive Components Section) members highlights their positive perceptions on the health of the sector, although a few challenges are also cited:
- SMMT supply chain members appear to be optimistic about the state of the UK automotive supply chain. Half (51%) of SMMT supply chain members surveyed say they think the state of the UK automotive supply chain has improved in the past three years. Four in five (78%) say that they feel positive about their business’s prospects over the next three years.
- Around seven in ten (68%) SMMT supply chain members say that their business plans to expand its UK-based workforce over the next three years.
- A majority of SMMT supply chain members select external factors, including exchange rate fluctuations (62%) or competition from overseas suppliers (58%) as those that are likely to impede their company’s ability to invest or grow over the next three years.
- Two in five (41%) supply chain members report the availability of skilled workers/apprentices/graduates as a limiting factor.
- Among SMMT supply chain members who export, a majority say they export to Western Europe (88%), North America (54%) and Eastern Europe (53%).
- SMMT supply chain members are most likely to say that they will look to identify export opportunities in Western Europe (44%) over the next three years.