Automotive industry has a great opportunity in Wales.
The automotive sector offers a fantastic opportunity for inward investment into Wales says the chief executive of the Wales Automotive Forum.
Addressing a meeting of Cardiff Breakfast Club Tim Williams said these opportunities applied to SMEs within and outside Wales, affording them a chance to expand and take advantage of what lay ahead.
The key points of the address confirmed the following key statistics concerning the strength of the Automotive industry in Wales and the rest of the UK.
Wales has 40 companies supported by well over 100 SMEs from engines, seats and air conditioning units to exhaust systems, brakes, panels and electronics.
18,000 people are employed within the sector turning over more than £3.3bn with a payroll value of £0.5bn
In 1955 Britain had five automobile manufacturing companies in 2015 there are nine bus and coach manufacturers, seven mainstream car makers, and eight premium and sports car manufacturers.
Seven out of 10 Formula One teams are based in the UK along with 13 research and development centres and six design facilities.
