May 18, 2022

condoritolapelicula

Half the Automotive

Rising cost of living may impact car sales


Richard Peberdy, UK Head of Automotive, said:

“It was widely anticipated that the automotive sector would take most of 2022 to sufficiently increase component capacity and put an end to the supply shortages that have limited car production during the pandemic.

But the implications of war in Ukraine and heightened restrictions in China add further complexity and exacerbate this challenge.  

“Whilst supply shortages persist, production volumes will remain lower than pre-pandemic, and car makers will continue to focus on higher margin models, as well as the electric vehicles market. 

Up until now, this has kept forecourt sales relatively healthy, and also driven up prices of used cars.  But the rising cost of living poses significant questions about whether consumers will delay, or even curtail, larger investments, such as on a car.  The coming months will tell.”

ENDS

 

For further comment or interview please contact:

Steven Reilly-Hii

Media Relations Manager (Industrial Manufacturing, Automotive, and Future Mobility)

KPMG LLP

E: [email protected]

T: 07510 376635

 

About KPMG:

KPMG LLP, a UK limited liability partnership, operates from 21 offices across the UK with approximately 16,000 partners and staff.  The UK firm recorded a revenue of £2.3 billion in the year ended 30 September 2020. KPMG is a global organisation of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 147 countries and territories and has more than 219,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.



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