Justin Benson, Head of Automotive at KPMG in the UK, comments on the SMMT’s car manufacturing figures for July, released today.
He said: “The latest SMMT numbers come after recent historic highs for production levels in the UK. So some levelling out is not unexpected, particularly as the industry enters a hugely disruptive period with electric, connected and autonomous vehicles entering the market over the next few years.
“However, the export numbers are a little worrying. 80% of cars produced in the UK are for export and given the relatively buoyant consumer markets in the US, China and the EU, the concern would be that tariffs, whether Brexit or others, will make consumers around the world start to think twice about buying new cars. That being said, market share is now all to play for, which bodes well for consumers, so if you are in the market for a new car ‘drive’ a hard bargain!”
For media enquiries only, please contact:
Jo Chileshe, KPMG Corporate Communications
T: +44 (0)121 232 3343
M: +44 (0)7919 211 803
Follow us on twitter: @kpmguk
KPMG Press Office: +44 (0)207 694 8773
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff. The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and territories and has 200,000 people 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.