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UK motor industry announces record £69.5 billion turnover as sector accelerates to historic high

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The Advanced Propulsion Centre today welcomed new figures released today by the Society of Motor Manufacturers and Traders (SMMT) which confirm the growing strength and vitality of the UK automotive industry and its ascendancy as a major global player. The SMMT’s 16th annual Sustainability Report confirms the sector is breaking new records, with turnover hitting an all time high of £69.5 billion in 2014. Manufacturing output, vehicle sales, jobs and export values also grew, while the environmental impact from vehicle production has been reduced dramatically.

Jon Beasley, the APC’s director of technology and projects spoke at the launch event in London commenting on the remarkable growth achieved through innovation and investment in new technology and skills. The report covers a wide range of issues including the economic, environmental, and social performance of the UK automotive industry and shows the positive steps taken in 2014 such as an increase in vehicle production, sector turnover, and jobs in the sector. To view the report click here: SMMT 16th Sustainability Report – final.

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Jon Beasley, Director of Technology and Projects, APC

The panelists at the launch included:

The release of the report comes as the APC’s latest grant funding competition draws to a close. Project consortia who registered for the APC4 competition have now submitted their applications for the current grant funding round. The competition has up to £60 million currently available to support low carbon advanced propulsion projects worth more than £120 million.

The competition opened on the 5th May and closed today 1 July at midday is called ‘APC4 Driving UK Capability and Economic Impact through Low Carbon Propulsion Technologies’ for projects which are collaborative and business-led and include a vehicle manufacturer or a tier 1 supplier and an SME partner. They must also develop the UK’s supply chain in the field of low carbon vehicle propulsion technology. The competition will fund the development of on-vehicle technologies for either on-road or off-highway vehicles.

Consortia must have a clear, demonstrable route to production, and line of sight to market, involving at least one vehicle manufacturer and/or a tier 1 supplier and at least one SME partner.