“Attractive finance offers from car manufacturers and rising consumer confidence continues to power the UK new car market. Consumers are seeking the latest fuel efficient vehicles as the cost of motoring remains high, despite a fall in oil price.
“The market should remain strong throughout 2015 as consumers who bought cars on the many three year finance deals in 2012 switch to a new car. The weak Euro should also keep car prices low. The UK new car market should reach a ‘new normal’ level higher than before the recession as a greater proportion of consumers will now return 3 year old cars in exchange for a new one. We expect the market in 2015 will achieve 2.6 million sales.”
Nahidur Rahman, KPMG Press Office
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 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.