UK engine manufacturers forecast £10.5bn revenue by 201631 October 2014
The value of engine manufacturing in the UK is expected to hit £10.5 billion by 2016 – an increase of £2.5 billion in two years, representing a boost to turnover of almost one third.
That's according to figures released yesterday (30 October) by the Society of Motor Manufacturers and Traders (SMMT), which adds that more than £1 billion has been invested in UK engine production since 2011.
The announcement coincided with the official opening of Jaguar Land Rover's £ 500m engine manufacturing centre in Wolverhampton, which follows the recent £490m investment by Ford in low-carbon engine development at Dagenham.
UK engine output is expected to surpass three million units per year by 2016 – more than 20% greater than current levels.
"The opening of Jaguar Land Rover's new engine facility and Ford's new engine range are clear evidence of the UK automotive industry's intention to become a leading force in the design, development and manufacture of engines," says Mike Hawes, SMMT chief executive.
"The recent success is testament to the expertise of UK engineers, a flexible workforce and the competitive and supportive business environment," he adds. "It will create more jobs, bolster the supply chain and help attract overseas suppliers back to UK shores."
Last year, more than 2.5 billion engines were produced in the UK, 60% of which were exported.
Ford Motor Co Ltd
Jaguar Land Rover
Society of Motor Manufacturers and Traders Ltd
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