John Leech, UK Head of Automotive at KPMG comments on the January 2013 vehicle manufacturing data published today by the Society of Motor Manufacturers and Traders:
“UK car production rose in January 2013 by 1.3% compared to January 2012. This is a resilient performance by the industry in light of the dramatic fall in car sales throughout the Eurozone. This resilience is borne from the fact that the UK exports a greater share of its vehicles to high-growth emerging markets than any of its European competitors.
“A small fall in production had been anticipated in January, so this increase, albeit minor, suggests the industry is feeling confident about strong UK car sales when the new registration plate changes in March 2013. And of course the bigger picture is that short-term Eurozone demand weakness will not derail the medium-term prospects for the UK car industry which remain bright and I still expect total UK vehicle production to hit the 2 million mark in 2016.”
Notes to editors:
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