Demand for used and new cars robust, despite cost of living squeeze

“For now, demand for both used and new cars remains robust, despite household budgets coming under increasing pressure. 

“Car makers also face their own cost challenges and the pressure to increase prices is building.

“As more of us again begin to commute, albeit with many facing fewer miles and days on the road than pre-pandemic, it will be interesting to see what this means for the car market over the coming months. 

The continued boom in electric vehicle adoption will be a key part of this picture, including many companies assessing their fleet and company car schemes, in light of their ESG commitments.”
 

ENDS.

For further comment or interview:

Steven Reilly-Hii

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

KPMG LLP

E: steven.reilly-hii@kpmg.co.uk

T: 07510 376635

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 15,300 partners and staff.  The UK firm recorded a revenue of £2.43 billion in the year ended 30 September 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 partners and employees 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.