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£1Bn motor boom

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Honda has commited to nine-figure investments.

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1 April 2015

Honda, Jaguar Land Rover and the London Taxi Company
Honda has committed to a nine-figure investment.

Boom time for motors

  • Three global vehicle manufacturers highlight commitment to UK in six-day £1Bn investment spree;
  • Honda, Jaguar Land Rover and London Taxi Company each commit to nine-figure investments;
  • UK car production up by 50% since 2009 to more than 1.5M units in 2014.

BOOMING car manufacturing in the UK looks set to continue with the announcement of new investments totalling more than £1Bn in the past week.

Honda, Jaguar Land Rover and the London Taxi Company have each made announcements of funding to build new vehicle models.

The latest announcements, which come on the back of a total of £7Bn committed in 2013 and 2014, are yet more evidence of the continuing renaissance in UK car production. In 2014, more than 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 include:

  • Jaguar Land Rover announces £600M new investment into its West Midlands operations, covering Castle Bromwich and Whitley sites;
  • Coventry-based London Taxi Company reveals a £250M investment – as well as the creation of 1,000 jobs – as it prepares for production of a new range of ultra low emission taxis;
  • Honda unveils a £200M spending plan with its Swindon plant to become the global production hub for the next-generation Honda Civic five-door.

Mike Hawes, Society of Motor Manufacturers and Traders chief executive, said: “It has been a fantastic week for UK automotive, with more than £1 billion earmarked by vehicle manufacturers for new model production that will drive further growth for the sector. Honda’s decision to build its next generation Honda 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.”

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