UK new car market in pole position to break all-time record of 2.58 million, says KPMG

UK new car market in pole position to break all-time...

John Leech, head of automotive at KPMG UK comments on the figures released by the Society of Motor Manufacturers and Traders (SMMT).

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John Leech, head of automotive at KPMG UK comments on the figures released by the Society of Motor Manufacturers and Traders (SMMT) which shows a steady 2.4 per cent growth in the UK new car market.

He said: “May was another good month for new car sales, up 2.4 per cent, as the carmakers continue to support the market with cheap credit.  With rising consumer sentiment and a strong pound it looks likely that the market will continue to perform well over the summer.  It is still possible that UK new car sales will break the all-time record of 2.58 million cars sold in 2003.”

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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.

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