Six year high in car production reflects strong UK export

Six year high in car production

John Leech, KPMG'€™s UK Head of Automotive, commented on the SMMT figures published today.

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John Leech, KPMG’s UK Head of Automotive, commented on the SMMT figures published today highlighting best year-to-date performance since 2008, producing 1,132,017 units – up 0.6 per cent. He said:

“The growth in new car production of 0.6 per cent for the first 9 months of the year was a strong performance in light of the continued underperformance of the European car market and in part reflects that half of cars exported by the UK are to countries outside the EU. No other EU country exports such a high proportion of its cars outside of the EU. In the last two months, manufacturers have extended shutdowns for retooling and refurbishment which has also allowed some rebalancing of vehicle stocks which should help their profitability in the coming months. We expect that UK vehicle production will grow more strongly in the coming months and years, growing by 20 per cent to 2 million vehicles in 2017.”


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About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 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.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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