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UK car production stalls in 2018

UK car production stalls in 2018

Head of Automotive at KPMG UK, Justin Benson comments on the latest SMMT car manufacturing figures which saw a 9.1 per cent fall in 2018.

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Justin Benson, Head of Automotive at KPMG UK, comments on the latest SMMT car manufacturing figures, which saw a 9.1 per cent fall in 2018.

“Such a significant fall in volume is a major cause for concern to the automotive industry and together with a 20 per cent reduction in December 2018, compared to December 2017, the trend appears to be worsening. Consumer confidence is vital for a vibrant automotive sector in the UK, as is investment, which is why significant reductions in investment over the last few years are extremely worrying.

“Global automotive manufacturers look for the right business environment to invest in and there has been too much uncertainty to provide the confidence to invest at the levels that the industry needs for new models to be made in the UK. With 80 per cent of vehicles made in the UK produced for export, the UK’s carmakers are desperate for clarity on future trading arrangements if they are to reignite the confidence of overseas headquarters to invest in the UK again.”

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About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 16,300 partners and staff. The UK firm recorded a revenue of £2.338 billion in the year ended 30 September 2018. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and has 200,000 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. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

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