An independent economic impact study carried out by Oxford Economic Forecasting has detailed the significant contribution the BMW Group has made to the UK economy.
The study revealed that in 2004, through its activities, the BMW Group contributed £1 billion directly to UK GDP. This reached £2.5 billion when including the wider economic activity through, for example, UK suppliers, which alone amounted to £1 billion in purchases.
In the last four years, the BMW Group has spent around £900 million in upgrading its production facilities in the UK. There was expansion at the production facilities of the new MINI, a commitment to training rewarded with the success of its Hams Hall engine plant, and a revitalised Rolls-Royce Motor Cars operation.The £96 million injected in 2004 was 0.7% of total UK manufacturing investment.
The BMW Group and its dealers directly employed almost 20,000 people, and supported a total of over 55,000 jobs in the UK through its further activities.
Jim O’Donnell, managing director, BMW UK, said, ‘Our UK businesses have now developed into a strong and cohesive group. We are looking to increase our future UK sales volume and our MINI production triangle in the UK will strengthen the links between our plants at Oxford, Hams Hall and Swindon. Over time we see this leading to more business for UK suppliers and further increasing BMW Group’s contribution to UK plc.’