United Kingdom

Details

  • Industry: Automotive
  • Type: Press release
  • Date: 05/04/2012

Car sector buoyant in buyers’ market, says KPMG 

 

Graham Smith, global head of automotive and diversified industrials, comments on the SMMT car registration figures:

 

“These are an encouraging set of figuresOptimism appears to be growing, with the 12-plate making its usual contribution in March. It’s clear there’s a buyers’ market out there which is being driven by low interest rates.

 

“Car brands are competing for market share. Retail and private buyers are returning to the market with some competitive deals as the continued stability provided by a low bank base rate gives buyers some confidence to change their vehicle.

 

“At a fleet level there is also extreme competition, with significant price pressure in the premium sector, which is resulting in exceptional deals being available as manufacturers and leasing companies take some brave decisions around future residual values in their quest to gain market share.”

 

Ends

 

For further information please contact:

 

Arti Mohan, Corporate Communications

Tel: 020 7694 8735

Mobile: 07768 858 085

Email: arti.mohan@kpmg.co.uk

 

KPMG Press Office: 020 7694 8773

 

About KPMG

 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with nearly 11,000 partners and staff.  The UK firm recorded a turnover of £1.6 billion in the year ended September 2010. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 150 countries and have more than 138,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  KPMG International provides no client services.