Today’s announcement by Honda means Britain’s booming car manufacturing industry has received yet another huge boost with three major manufacturers announcing UK investments worth more than GBP1bn in the past six days.
Honda, Jaguar Land Rover and the London Taxi Company have each made announcements of funding to build new vehicle models, totalling of GBP1.05bn.
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The latest announcements, which follow GBP7bn committed in 2013 and 2014, are yet more evidence of the continuing renaissance in UK car production, the Society of Motor Manufacturers and Traders (SMMT) said. In 2014, about 1.5m cars were produced in the UK – an increase of 50% since 2009, and the sector’s best performance since 2007.
The latest announcements were:
- 26 March: Jaguar Land Rover announces GBP600m new spend at its West Midlands operations, covering Castle Bromwich and Whitley sites.
- 26 March: Coventry-based London Taxi Company reveals a GBP250m spend – as well as the creation of 1,000 jobs – as it prepares for production of a new range of ultra low emission taxis.
- 31 March: Honda unveils a GBP200 million spending plan for its Swindon plant to become the global production hub for the next-generation Honda five door.
SMMT Chief Executive, Mike Hawes, said: “It has been a fantastic week for UK automotive, with more than GBP1bn earmarked by vehicle manufacturers for new model production that will drive further growth for the sector. Honda’s decision to build its next generation Civic, a global car in an important and growing segment, here in the UK caps off a record six days – the first time three manufacturers have announced nine-figure investments over such a short period of time.”
