Automotive sector

UK auto sector recovery remains deeply troubled

Richard Peberdy, Head of UK Automotive, KPMG, said:

“The recovery of the UK automotive sector from the disruption of the past two years remains deeply troubled. High energy costs are clearly part of this picture and will further test the resilience of UK automakers.

“In the midst of a squeezing cost of living and a very limited supply of new vehicles, it is far from easy to pass on rising costs to the consumer. At a time of great innovation for the industry, having to cut R&D budgets or capital expenditures risks compromising future growth and market position. »

-ENDS

Media contact:

Steven Reilly-Hii, Head of Media Relations, KPMG LLP,

Email: [email protected],

Tel: 07510 376635.

About KPMG:

KPMG LLP, a UK limited liability company, operates from 22 offices across the UK with around 15,300 partners and staff. The British company recorded sales of £2.43 billion in the financial year ending September 30, 2021.

KPMG is a global organization of independent professional services firms providing audit, legal, tax and advisory services. It operates in 145 countries and territories with more than 236,000 associates and employees working in member companies around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is an English private company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.