SMEs invest £22m into Northern vehicle industry

INVESTMENTS totalling £22m were made by Northern automotive supply base and niche vehicle manufacturing companies – all SMEs – during 2015.

This contrasts to a similar survey conducted just one year earlier when investments totalling just above £7.5m were made. The latest figures equate to an increase in investment of around 300%.

In addition, at least 341 jobs were created by automotive SMEs in the Northern region during 2015 – compared to 237 jobs during 2014.

The figures do not include investments by the major vehicle manufacturers in the region – Bentley Motors, Jaguar Land Rover, Leyland Trucks and Vauxhall.

Carol Holden chief executive of the Northern Automotive Alliance said: “Automotive supply base and niche vehicle manufacturing companies across the NAA area within the Northern Powerhouse are demonstrating impressive growth and making significant investments.

“A major opportunity has been identified to grow the UK automotive supply chain, and these latest figures show that the companies working with the Northern Automotive Alliance are growing into larger suppliers – as well as making a significant contribution to the UK economy.”

Close