UK Automotive Production Slightly Down But To Recover Next Quarter, Says KPMG
20th March 2014 – John Leech, KPMG’s UK Head of Automotive, commented on the UK car production figures for February published today by the SMMT. He said:
“UK car production in February 2014 fell 2.7 percent and year to date production is down 1.4 percent, but these downward trends are expected to reverse next quarter as plants ramp up production of recently launched models such as the BMW Mini, Nissan Qashqai and Range Rover Sport. Production in 2014 is forecast to be higher than 2013 and forthcoming vehicle launches should see UK vehicle production increasing by a third by 2017.
“Investment in the supply chain continues as UK vehicle production plants continue to report difficulty in finding UK suppliers of a wide range of components, such as engine castings, steering systems and alloy wheels. This is sparking a surge in M&A and capital investment which we expect to continue for the foreseeable future.”