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UK car production dips in September

UK car production dips in September

Justin Benson, Head of Automotive at KPMG UK comments on the latest SMMT car manufacturing figures.

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He said: “Whilst exports continue to be the most significant driver for the majority of cars produced in the UK, the domestic market is the main contributor to the reduction in volume. New models, such as expensive electric vehicle models, aren’t helping the situation either. So it would be a pleasant and very welcome surprise for carmakers next week if the Chancellor announces an incentive for consumers to buy very low emission vehicles. 

“In the meantime, Brexit and continuing uncertainty is making consumers think twice about making major purchases and KPMG’s recent survey of the public in the event of a ‘no deal’ scenario found that almost half (47%) of the public expect to delay such purchases. While this means great offers on cars will continue, levels of consumer confidence are directly aligned to vehicle purchases. If there is certainty then confidence should increase, which will hopefully see an improvement in car production and sales.”

-Ends-

 

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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff.  The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and territories and has 200,000 people 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.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

 

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