New car market slips into neutral | KPMG | UK

New car market slips into neutral

New car market slips into neutral

John Leech, head of automotive at KPMG UK, comments on today’s SMMT new car registration figures.

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John Leech, head of automotive at KPMG UK, comments on today’s SMMT new car registration figures which highlights that 180,168 cars were driven off the UK’s forecourts last month as registrations grew 1.4 percent. He said:  

“For the past six months we have seen a similar pattern of small declines in consumer sales, offset by steady growth in fleet sales. With prices set to increase by small incremental amounts over the next year, it is tempting to wonder if the consumer market might decline further. However, our analysis of Personal Car Plan returns gives confidence that this is unlikely as very few car buyers are facing negative equity in their car loans at present. Therefore we maintain our forecast of another all-time record year of car sales at 2.7 million in 2016 falling back a little in 2017.”

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