Tag: KPMG
NFDA, DWF, KPMG, Global Data and SMMT reactions to 2019 car registration figures
While the 2019 UK car registration figures are clear that the market declined last year, various sources gave differing views as to what are the most important trends and what should be done.
Speaker programme announced for VRA’s “2020 Vision” seminar as event reaches capacity
The speaker programme for the Vehicle Remarketing Association’s “2020 Vision” seminar has been announced as the event reaches capacity with the final delegate spaces booked. More than 150 industry professionals are expected to attend The Slate at Warwick University on Wednesday 27th November to hear a programme designed to help equip them to meet the challenges facing the sector in the coming year.
Kings Road Tyres in administration
Beleaguered wholesale and tyre services company Kings Road Tyres is now in administration, with KPMG appointed joint administrators. The administration comes at the end of nearly a decade of turbulence for the company, which is one of the UK’s oldest tyre wholesale operations, having been incorporated in 1959.
Brexit planning nearly halves UK car production
UK car manufacturing output plummeted in April, with figures published by the Society of Motor Manufacturers and Traders (SMMT) showing it was down -44.5 per cent year-on-year. 70,971 cars rolled off production lines in the month, as factory shutdowns, rescheduled to mitigate against the expected uncertainty of a 29 March Brexit, took effect in many plants across the UK.
British car manufacturing falls -14.4% in March as industry warns no-deal Brexit could send output back to 1980s levels
British car production declined -14.4 per cent in March, falling for the 10th month in a row with 126,195 units rolling off factory lines, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). Production for both home and overseas markets declined in double digits, down -18.1 per cent and -13.4 per cent respectively.
Forget PCPs, you’ll soon pay for car travel like a Netflix subscription – KPMG study
UK automotive executives believe that the owner/driver of a connected car in future won’t own the data their vehicle generates, according to KPMG’s Global Automotive Executive Survey 2019.
SMMT figures ‘extremely worrying’ says KPMG
Justin Benson, head of automotive at KPMG UK, comments on the latest SMMT car manufacturing figures, which saw a 9.1 per cent fall in 2018.
Fall in new car market a ‘wake up call’ to policy makers
The UK new car market declined by -6.8 per cent in 2018, with annual registrations falling for a second year to 2,367,147 units, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). A -5.5 per cent decline in December capped a turbulent year of model changes, regulatory upheaval and continued anti-diesel policies, adding to the ongoing decline in consumer and business confidence.
Uncertainty stalls UK car manufacturing
Commenting on October’s car manufacturing figures, Justin Benson, Head of Automotive at KPMG UK, said: “The automotive sector in the UK is at a hiatus. Consumer confidence is on a downward trend and is already at lower levels when compared to the same period last year.
KPMG: Brexit uncertainty behind UK car production dips
Following the news that UK car production fell almost 17 per cent in September, Justin Benson, head of Automotive at KPMG UK suggested the latest SMMT car manufacturing figures could motivate government to consider automotive industry incentives:
September car registrations down 20.5 per cent
The UK new car market fell by -20.5 per cent in September, according to the latest figures released by the Society of Motor Manufacturers and Traders (SMMT). 338,834 vehicles were registered in the month, down around 87,000 on the previous year as new testing requirements continue to affect supply and distort the market.
British car manufacturing in decline, based on sustained domestic demand fall
The Society of Motor Manufacturers and Traders has announced a -4.4 per cent decline in British car manufacturing, as production for the home market fell by double figures. Exports declined in the month too, but only by -0.8 per cent, with 117,139 vehicles shipped overseas, accounting for more than 80 per cent of output.
Chancellor’s tax relief for cleanest vans requires further detail – KPMG
The chancellor of the exchequer, Phillip Hammond, has announced a reduction in tax for the cleanest vans in his Spring Statement. Introducing the measure, he said the government wanted to “help the great British white van driver go green.” Analyst KPMG responded that more detail is needed to allow vehicle manufacturers to develop products to take advantage of the tax reduction.
September UK car manufacturing goes into reverse amid Brexit uncertainty
UK car manufacturing fell in September, with year-on-year output declining -4.1 per cent, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). 6,500 fewer cars rolled off production lines than in the same month last year, with a total output of 153,224.
KPMG appoints new UK head of automotive
KPMG has appointed Justin Benson as its UK head of automotive. Benson joined the firm in 2000 and has risen to the level of director. KPMG states that has worked in the automotive sector for over a decade and is well known within the industry.