These figures will likely disappoint for a plate change month

Commenting on the latest SMMT car registration statistics Richard Peberdy, UK head of automotive at KPMG, said:

“These figures will likely disappoint for a plate change month that typically sees a noticeable boost in new car registrations. Intense new vehicle supply issues due to the likes of chip shortages and some remaining Covid related factory output problems will be limiting some sales, while levels of inflation in parts of the economy are also spooking motorists and businesses into tightening spending.

“That said, electric vehicle sales continue to rise, with problems at the pumps likely to push more motorists towards considering hybrid and electric models.

“Radical change in carmakers’ business models may be necessary to facilitate the electric transition, where they pivot to behave more like mobile phone companies. Mobility packages are now being developed where consumers get the use of a vehicle, a charger on the wall and a new energy tariff to boot, much like how data plans work with mobile phones.”

ENDS

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About KPMG UK
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 revenue of £2.3 billion in the year ended 30 September 2020.
KPMG is a global organization 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.