Figures released today by the Society of Motor Manufacturers and Traders showed that UK car output rose 16.6% in April 2013, reversing the decline experienced during the first quarter of 2013.
John Leech, UK Head of Automotive at KPMG comments:
“With new cars sales stabilising in Germany and Spain and still powering ahead in the UK, the mood in the UK car industry is brightening. UK car production looks set to grow again in 2013, which will make it the fourth consecutive year of growth contrasting sharply with the rest of Europe which is expecting its seventh straight year of decline.”
“Compared to Europe, the UK has a higher proportion of premium car plants such as JLR and Mini which export to fast-growing emerging markets and whose consumers have been more confident over the past year. Our medium-term forecast remains positive, with UK vehicle production set to grow from about 1.5 million to 1.9 million in 2016 based on manufacturers’ latest plans.”
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Bona Boraliu, KPMG Press Office
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Notes to editors:
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 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.