United Kingdom

Details

  • Industry: Automotive
  • Type: Press release
  • Date: 18/10/2012

Europe dragging down UK car sales, says KPMG 

 

John Leech, KPMG UK head of automotive, comments on The Society of Motor Manufacturers and Traders (SMMT) UK car production figures which fell 5.8% in September but remains up10.2% over the year-to-date:

 

“At first glance, Europe poses a real threat to UK car production as its economies struggle to restore business and consumer confidence.  However, demand for cars outside of Europe in countries such as China and India is still strong and expected to remain steady going into 2013.  Therefore, a drop in last month’s output figures should be taken with a pinch of salt as the UK is set to invest and grow its automotive industry including its supply chain for the export market. 

 

“Throughout 2012, we’ve seen car production in the UK rise and fall. At the beginning of the year the Euro crisis deepened and UK car output clearly reflected a change in business and consumer attitudes in Europe. But despite weakening demand in the Eurozone, UK car production rose on the back of strong exports to non-European economies such as China at the beginning of the year. We can expect this trend to continue into 2013 but this time we are also expecting a bounce back from the UK consumer.”

 

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 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.

 

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