John Leech, head of automotive at KPMG UK, comments on the latest SMMT car manufacturing figures. He said:
“While today’s car manufacturing figures show production hitting the highest year-to-date level in a decade, the overall output fell slightly in October compared to the same month last year. The reasons for this drop are twofold: the seasonal cooling down as a number of UK plants prepare for new models, such as the new Vauxhall Astra being launched at Ellesmere Port later this month; and weakness in demand in the Chinese and Russian markets.
“However, this is a blip, rather than a trend. Undoubtedly 2016 will see more cars made in the UK than in the previous decade, and I forecast that car production will continue to grow in future years, peaking at 2 million in 2020 to beat the all-time production record.”
- ENDS –
Frances Shennan, KPMG Press Office
Frances.email@example.com, +44 (0)121 335 2575
KPMG Press Office: +44(0)20 7694 8773
Notes to Editors:
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.