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SMMT Analysis Reveals UK Automotive Industry's Challenges amid EV Transition
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2025-01-17
The Society of Motor Manufacturers and Traders (SMMT) released a new analysis indicating that car manufacturers could face a nearly £6 billion bill in 2024 to meet the Zero Emission Vehicle (ZEV) Mandate, with projections showing 116,000 fewer EVs will be registered than initially expected. The UK automotive industry is sounding alarm bells over its transition to electric vehicles (EVs), calling for urgent government intervention due to weak demand and unsustainable costs. Despite a 30% increase in EV model options since 2023, the market's response has been underwhelming. High interest rates, soaring raw material prices, and geopolitical uncertainties have dampened consumer confidence. The anticipated registration of 457,000 electric cars in 2024 has been revised down to just 363,000, representing an 18.7% market share instead of the targeted 23.3%. Manufacturers are compelled to offer substantial discounts—estimated at £4 billion—to stimulate sales, yet they still risk incurring compliance costs for failing to meet mandated targets. SMMT Chief Executive Mike Hawes emphasizes the need for a review of automotive regulations to ensure they align with market realities and support growth, highlighting that prompt action is essential to safeguard the industry's future and potential economic contributions.
英國汽車製造商和貿易商協會
零排放
電動車
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Society of Motor Manufacturers and Traders (SMMT)
Zero Emission
electrical vehicle
EV
transformation
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