Trenches Law’s Post

UK Electric Vehicle (EV) sales reach 25% of overall car sales in November, the fifth consecutive month they exceed a 20% market share. UK car manufacturers appear overall on track to meet the first year targets under the Zero Emissions Vehicle Mandate (ZEV mandate), which requires at least 22% of car sales being #EVs for 2024/25. There is a growing concern however that meeting more ambitious EV sales targets in future years will be more challenging as it is hard to predict if future consumer demand for EVs will keep track with the ZEV mandate targets. To address this, government policy will most likely need to combine its ongoing charging infrastructure deployment programme with time-limited incentives for consumers to cope with the remaining upfront cost differential between affordable EV models and their petrol / diesel equivalents. Other measures that are important to continue growing consumer uptake include developing industry wide standards to reassure consumers on long-term battery health and a concerted communication campaign to address remaining range anxiety concerns. You can read more about the latest UK EV market developments here: https://lnkd.in/gQyhuE3Y #climate #netzero #IndustrialStrategy

Due to a decline in buyer interest in EVs, UK dealerships are facing challenges meeting the government's 2024 quota of 22% EV sales. To comply, manufacturers are intentionally delaying shipments of ICE cars, hoping to lure unsuspecting buyers into EVs. This tactic, however, is frustrating customers who prefer gas-powered vehicles. The situation highlights the contradiction between government policy imposing EVs and real life consumer demand for practicality and common sense. https://lnkd.in/gS35mRh9 Read my article to find out exactly why this circus is happening in front of Us. https://lnkd.in/gYPgrDRc

Sales of electric cars have been increasing in UK. In October, they made up nearly one out of every four cars registered. However, industry sources insist this is largely down to unsustainable discounting, manufacturers argue that demand for electric cars has not been as high as was expected #automotive #EV #supplychain #sustainability https://lnkd.in/eB3but25

Electric Vehicles sales slowing? Sales of electric cars are not keeping up with other types of cars, and the car industry is asking the government to give people more reasons to buy electric cars. According to the Society of Motor Manufacturers and Traders (SMMT), only 15.2% of new cars registered in March were electric, down from 16.2% the previous year. This means that fewer people are buying electric cars compared to other types of cars. Even though companies are buying more electric cars, fewer individuals are doing so. In March, more cars were sold overall, but fewer were bought by individuals, possibly because the economy was not doing well. The SMMT says that the government needs to help people buy electric cars. The Chief Executive of SMMT, said that companies make good offers, but they can't keep paying for people to buy electric cars forever. The SMMT is asking the government to reduce the tax that people pay when they buy electric cars and when they charge them. A car dealership CEO explained that there are incentives for companies to buy electric cars, but there are no incentives for regular people. The Department for Transport says that more electric cars have been sold, in part because of government help, but the number of electric cars sold is still not enough. If car companies do not start selling more zero-emission cars, they may have to pay fines. The government is saying that at least 22% of the cars sold this year must be zero-emission, with the goal being 80% by 2030 and 100% by 2035. If companies don't meet these goals, they could be fined £15,000 for each car.  #ev #electricvehicle #tesla #biac #byd #china #usa #uk #economy #sales #transport #zeroemission #globalsale #electric #carbonfootprint Source: https://lnkd.in/du4urnHK

🚗⚡ 1 in 4 Cars Sold in the UK Last Month were Electric! November marked the 11th consecutive month of growth for EV sales, as reported by the SMMT. This surge was powered by competitive pricing and a race to meet ambitious targets. 🚀💡 #ElectricVehicles #EVSales #Sustainability #NetZero #Innovation #FutureOfMobility

The UK auto industry is likely to miss its 2024 EV sales goals, according to a trade body. Challenges in infrastructure and consumer adoption are slowing progress toward electrification. Urgent action is needed to accelerate the transition to electric vehicles and meet sustainability targets. #ElectricVehicles #AutoIndustry #Sustainability #EVSales #UK #GreenTransport #electricvehiclesnews #evnews #evtimes #autoevtimes #evbusines

I posted something earlier this week on how the Dacia Spring could prompt price realignments in the new EV sector. Interestingly, this piece looks at other significant downward price pressures – from the EV mandate to limited consumer demand. It really does seem as though new EVs could be considerably cheaper by the end of the year. https://ow.ly/FHBa50QVnTZ #Startlinemotorfinance #motorfinance #dealers #dealership #autoretail #motorindustry

UK Carmakers Offer Billions in EV Discounts, Still Struggle to Meet Sales Targets. The UK auto industry is facing a challenging transition to electric vehicles, with carmakers offering massive discounts to boost sales and avoid fines for missing government-mandated targets. Despite these efforts, the industry is still falling short of expectations. Key facts and stats: - Carmakers are set to offer at least £2 billion in EV discounts this year in the UK - In September, battery-electric vehicles (BEVs) accounted for 20.5% of total sales, shy of the 22% target set by the government for 2023 - BEV sales rose 25% in September, while overall market registrations increased just 1.1% year-over-year - Automakers face fines of up to £15,000 per vehicle for failing to meet the UK's EV sales mandate - The UK plans to end sales of new petrol and diesel cars from 2030 - The industry is calling for the value-added tax on EV purchases to be halved to 10% for the next three years to support the transition The UK auto industry is spending billions on product development and market support to boost EV sales, but the Society of Motor Manufacturers and Traders (SMMT) warns that this level of discounting is unsustainable. The industry group also cautions that market weakness is putting environmental ambitions at risk and jeopardising future investments. Questions to consider: 1. How will the pressure to meet EV sales targets impact the financial health and competitiveness of automakers operating in the UK? 2. Will the steep discounts on EVs be enough to convince consumers to make the switch, or are additional incentives and infrastructure improvements necessary to accelerate adoption? Source: Bloomberg #automaker #EV #automative #green

Is Europe finally waking up to the fact that no one wants to pay exorbitant price’s for legacy EV cars which are inferior to Chinese EV’s which are fraction of the cost.

UK car production fell sharply in October amid industry concerns about "intense pressure" on investment in electric vehicle-making. Output of all cars dropped by more than 15% from a year earlier, mainly due to a fall in exports following weak demand, the Society of Motor Manufacturers and Traders (SMMT) said. Production of electric and hybrid vehicles declined by a third compared with last year, due to flagging European demand and the retooling of factories for new models. https://lnkd.in/eqvXgUPy #electricvehicles #uk #manufacturing