SMMT review highlights strong UK auto sector performance in 2014
Sat 10 January 2015
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The Society for Automotive Manufacturers and Traders (SMMT) says that 2014 was another year of success and strong investment growth for the UK motor industry. The year included significant new investments by JLR and Ford. It followed a bumper year in 2013.
The 2014 investments were committed by Jaguar Land Rover, which announced a £3.5 billion investment into the UK supply chain to support production of its new Discovery Sport, while Ford invested a further £190 million into the £490 million project to produce its range of low carbon engines in Dagenham, recruiting a further 250 employees to its 2,000-strong workforce.
SMMT also reports that 2014 saw a significant rise in demand for alternatively-fuelled vehicles (AFVs). In particular, registrations of plug-in cars quadrupled from 3,586 in 2013 to 14,498 in 2014. With a rapidly growing number of models to choose from (now more than 20 compared with just six in 2011), this is one area of the market that looks set to continue growing strongly, the Society says.
The SMMT review of 2014 also comments on the continuing strong support from the UK Government, particularly in supporting the adoption of AFVs.
A report published by the LowCVP alongside its annual conference in July 2014 found that in addition to cutting carbon emissions at an historically unprecedented rate, a consistent policy with a low carbon focus has been a major factor in the industry's renaisscance in the UK.
Global demand for the UK’s high quality automotive engineering and diverse range of products remains strong: 80% of cars built in the UK are exported to more than 100 countries worldwide.
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