John Leech, KPMG’s UK Head of Automotive, commented on the SMMT figures published today highlighting a 14.2% jump in new car registrations in October, marking the 32nd consecutive month of growth. He said:
"This was an unexpected leap in UK car sales, as most in the industry expected the market to plateau. These latest figures put the UK on course to smash the 2.5 million mark by the end of the year. As PPI payments to consumers are tailing off, it is rising consumer confidence taking advantage of cheap car loans that is driving the market. Consumer confidence is still well below pre-recession levels so it may be that the market continues to power ahead this year before plateauing out in 2015.”
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