SMMT new car registration figures announced today found that UK car sales rose by 9.3% in July 2012 compared to July 2011, which is the fifth consecutive month of year on year volume growth. Overall in the first seven months of 2012, new car sales have risen 3.5% compared to the same period last year.
Commenting on the figures, John Leech, Partner in KPMG’s Automotive practice said : “This is a surprising result, particularly given that it is the UK consumer who is powering this recovery, with car sales up 10.5% so far this year, offsetting a 15% decline in car sales to UK companies and businesses.
“Although consumer confidence in the UK remains at a low level, carmakers are offering a higher than normal release of new models and large discounts to consumers. Dealer profits are generally healthy and puts the industry in good shape to respond to any future shocks to consumer confidence from the ongoing Eurozone crisis.”
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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 over 11,000 partners and staff. The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 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.
