UK vehicle traders and manufacturers want strong fiscal incentives from government

The UK’s Society of Motor Manufacturers and Traders (SMMT) has warned targets will be missed on 2024 EV sales:

• called on the new Labour government to introduce incentives for private buyers to speed up the switch to EVs
• calls to halve the tax on new EV purchase for three years for private customers and reduce VAT on public charging

UK new car sales rose 1.1% year-on-year in September, the
SMMT separately said

• sales of battery electric
  vehicles at a new record, makingg up for 20.5% of the overall
  market powered by fleet purchases

There is a Reuters article expanding on all this, worth a read if you are interested.

• “September’s record EV performance is good news, but look under the bonnet and there are serious concerns as the market is not growing quickly enough to meet mandated targets”

This article was written by Eamonn Sheridan at www.forexlive.com.