Acceleration of car purchases set to drive sales over 2.5m in 2014, says KPMG

Acceleration of car purchases set to drive sales ...

KPMG’s UK Head of Automotive, John Leech, comments on the 32nd consecutive month of growth for new car registrations in October.

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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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Ann Burton, KPMG Press Office

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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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