KPMG’s dedicated global Automotive sector works with some of the largest and most successful automotive companies in the world.
KPMG’s dedicated global Automotive sector works with some of the largest and most...
The automotive market is diverse. It ranges from Original Equipment Manufacturers (OEMs) and component manufacturers, to dealerships and commercial vehicle manufacturers. Financial pressures, industry restructuring, changing consumer preferences, regulating issues, fluctuating fuel prices and the growing demand for more environmentally friendly vehicles are transforming the world’s automotive industry.
The South African Automotive Industry continues to adjust to market forces. The manufacturing level is being impacted by the increasing number of imported vehicles and the after affects of the global economic crisis, especially the uncertainty with regards to the European markets and the impact on local exports.
The Automotive aftermarket has also needed to respond to these forces. Both areas are impacted further by the increase in electricity and raw material prices and the increase in labour rates, low productivity and lack of flexibility. To survive and grow, automotive companies must continuously develop and maintain customer relationships, achieve technical excellence and retain skilled labour pools, and manage significant risks.
Moving forward, automotive companies must look for new ways to address existing challenges, mitigate risks, and seize future opportunities, amidst increasingly aggressive competition and pricing pressures. While some may be tempted to focus on short-term success to the detriment of long-term profitability, KPMG’s holistic approach can help automotive companies take a big-picture view to explore the appropriate paths forward.
What we do
KPMG has invested extensively in developing a highly experienced Automotive team. Our understanding of the industry is both current and forward looking, thanks to our global experience, knowledge sharing, industry training and the use of professionals with direct experience in the Automotive industry. Our experience arises not only from working with clients, but also from our firms’ involvement with key industry bodies across the world. By understanding and anticipating the upcoming issues, we seek to enable our clients to be prepared to respond and adapt accordingly.
In the future there will be potential for growth across many areas, from the booming manufacturing and domestic markets in developing economies, to the research and development of 'greener' vehicles and fuels. KPMG’s Automotive team offers a pro-active, forward-thinking service to our firms' clients to help ensure that the potential for growth in the industry is not missed, and that the issues and challenges faced by the industry can be overcome.
Our Experience and Credentials
With deep industry knowledge and experience, KPMG’s professionals work together to deliver clear and informed options based on insights and advice that can translate into bottom-line value for leading Automotive companies. Our experts based in Durban, East London, Johannesburg, Pretoria and Port Elizabeth are in regular contact with our Automotive solutions leaders across the globe.
Our global Automotive services are supported by:
KPMG are the external auditors of two major German vehicle manufacturers and a number of component suppliers, dealerships and aftermarket outlets. Advisory and Tax services are provided to the majority of the major leading automotive companies in South Africa. Clients receive in-depth industry knowledge and expertise as a result of our experience with these leading companies which ensure our experts are able to add value immediately.