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KPMG comments on new car registration figures for May

KPMG comments on new car registration figures for May

KPMG comments on British car production falling below WW2 levels.

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Andrew Burn, Partner and Head of Automotive at KPMG, comments on the SMMT’s new car registration figures for April 2020, which recorded a drop of 99.7% year-on-year. 

He said: "Given the current circumstances, that car sales in the UK have plummeted further is unfortunately no surprise.

 “The reopening of car dealerships next week is a welcomed move, but it’s important to remember that around 8 out of 10 cars made in the UK are for overseas markets, so UK consumers still being on lockdown will have had less impact on car sales than other factors. And, that will continue to be the case as we move into some form of normality over the coming months.

 “Looking forward, the challenge for suppliers will be contending with low volumes and fluctuating schedules. There is an expectation that many manufacturers will adopt a demand-led model, although this will continue to be impacted by uncertainty around volume – it is extremely unlikely that we’ll return to pre-COVID-19 levels for the significant future.

“Similarly, whilst we’re seeing movement in the reopening of factories in the UK, those that have lots of components or sub-assemblies coming from overseas are likely to see the greatest continued disruption even after the UK’s lockdown is lifted. Overcoming the challenge of crossing borders will be a focus as we move forward.”

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For media enquiries only, please contact:
Olivia Shalofsky, KPMG Corporate Communications
M: +44 (0)7469441308
E: olivia.shalofsky@kpmg.co.uk

 

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