John Leech, UK Head of Automotive at KPMG comments on the 2012 vehicle manufacturing data published today by the Society of Motor Manufacturers and Traders:
“News that UK car production set an all-time export record is clearly welcome and has essentially been driven by great performances at both JLR and Nissan. JLR’s Range Rover is the vehicle that best meets the consumer aspirations of the fast-growing middle-class in emerging markets especially China while Nissan’s Qashqai kick-started the fast-growing urban crossover vehicle segment.
“The dramatic fall in car sales throughout the Eurozone has undoubtedly impacted the UK car industry and has hit Honda and Ford’s Transit production already. There remains further risk that production will fall in the first quarter of 2013 as the Eurozone remains under pressure.
“However, the medium-term prospects of the UK car industry remain excellent and UK vehicle production should hit the 2 million mark in 2016. This will be driven by new vehicle production plans in place at Nissan, JLR and other UK car plants that should be resilient to continuing Eurozone weakness.”
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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 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.
