Partner Article

North West automotive manufacturers positive about its £31bn industry

More than a quarter of manufacturers in the North West produce commercial vehicles; and the region is home to key brands such as Bentley, Leyland Trucks and Alexander Dennis, which is the UK’s leading bus and coach manufacturer.

These key companies are supported by the thousands of businesses in their supply chain and have buoyed manufacturing to become the North West’s most dominant sector, with a turnover of £31bn.

A new survey from accountancy and business advisory firm BDO LLP reveals 77% of the North West automotive industry anticipates growth in 2015.

The national survey, carried out in conjunction with the Institute of Mechanical Engineers (IMechE), looked at the issues that mattered most to the institute’s automotive industry members.

The majority of those interviewed in the North West envisaged up to 10% sales growth in 2015, while 15% of respondents are even confident of a 100% increase.

New opportunities are likely to come from export markets, with more than 69% identifying international sales as a key area for growth.

More than half (56%) of those seeking a bigger overseas presence also believed this would come from exploring new, as opposed to existing, markets.

Audit partner and head of manufacturing at BDO LLP in the North West, Don Bancroft, said: “The optimism of the automotive industry signals strong momentum for what is a key component of the North West’s manufacturing sector.

“International sales are absolutely the guiding principle for growth, and it’s fantastic that regional firms recognise this and have a vision for global expansion.”

“It is essential that companies in the region continue to invest in R&D to maintain their position on an increasingly competitive world stage.

“The government also has its part to play and must do everything it can to support the sector’s export drive and ensure that its support for the industry is well promoted and understood.”

This was posted in Bdaily's Members' News section by Sophia Taha .