UK car manufacturing acceleration result of investment of ‘billions of pounds’ – KPMG
KPMG says UK car manufacturers’ increasing production comes as a result of a period of investment running to “billions of pounds.” Simon Heath, automotive M&A specialist for KPMG in the UK commented on the SMMT car production figures that were up 7.3 per cent in March 2017.
He said: “UK car manufacturers will be encouraged by these excellent figures that is the product of billions of pounds of investment over the last few years. The sector has enjoyed a boom of new models across brands, providing consumers with a wider choice of vehicles which encourages further demand. In addition, the depreciation of sterling has helped increase export volumes by 11.5 per cent YTD.
“Whilst we expect 2017 to continue the strong car production volumes alongside the UK’s record new car registrations, potential uncertainty from the Brexit negotiations may provide additional challenges going forward.”