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Supply chain issues continue to limit the number of vehicles rolling off production lines

Richard Peberdy comments on latest SMMT car registration statistics.

Richard Peberdy comments on latest SMMT car registration statistics.

Commenting on today’s (6 September 2021) SMMT car registration statistics Richard Peberdy, UK head of automotive at KPMG, said:

“Supply chain issues continue to limit the number of vehicles rolling off production lines onto forecourts, which is capping new car sales while fuelling demand in the second-hand market. We’re right in the middle of the supply crisis now, and while August is traditionally a quiet month for new registrations, we will certainly see some unusually low numbers registered on the new ‘71’ plate in September too.

“Market share for electric vehicles (EV) continues to grow as carmakers prioritise their production and sales will rise further as new models launch this year. But despite creating greater choice for consumers, many motorists will remain priced out until vehicle costs come down further.

“Generally speaking, the financing market is strong with low-interest rates and plenty of credit. Manufacturers, retailers, and new entrants are pouring more focus into mobility-as-a-service (MaaS) concepts, which are gathering some momentum, though the convenience of MaaS still comes at a price.”

 

ENDS

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About KPMG UK

KPMG LLP, a UK limited liability partnership, operates from 21 offices across the UK with approximately 16,000 partners and staff.  The UK firm recorded revenue of £2.3 billion in the year ended 30 September 2020.

KPMG is a global organization of independent professional services firms providing Audit, Legal, Tax, and Advisory services. It operates in 147 countries and territories and has more than 219,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

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