A report published in the summer by the Automotive Council found automotive manufacturers already spend £8.4 billion with UK suppliers and actively wish to increase local purchasing. An immediate opportunity was identified to increase local purchasing by £3 billion per annum.
Business Minister Michael Fallon said: “We need to do all we can to make sure the UK supply chain takes better advantage of business opportunities in the automotive sector, and showing global businesses what the UK has to offer will help make this happen.
“This will not only secure valuable business deals for UK firms, but further strengthen the success of the UK automotive sector.”
Co-Chair of the Automotive Council, Richard Parry-Jones, said: “Our major manufacturers have already repatriated hundreds of millions of pounds worth of business to the UK. But there is the potential to win back so much more.