UK Auto Industry Warns Lack of Incentives Slows EV Uptake

📆 2024-10-04 8:49 AM
📰 OilandEnergy

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UK News

Electric Vehicles,EV Sales,Auto Industry

The UK auto industry is urging the government to introduce incentives for electric vehicle EV buyers as the industry is struggling to meet its 2024 sales target.

The UK’s auto manufacturing industry will likely miss its 2024 target of electric vehicle sales as drivers lack the “fiscal incentive” to switch to EVs, the main industry body and several manufacturers wrote in a letter to the Chancellor of the Exchequer, Rachel Reeves. The Society of Motor Manufacturers and Traders SMMT called on the Labour government to introduce new incentives for EV buyers as the car manufacturing industry by itself cannot sustain the costs amid flailing demand for EVs.

But deliver this support to consumers and the benefits are myriad a thriving market, enhanced consumer choice and affordability, investment attractiveness, high value job creation, cleaner air, quieter streets and economic growth,” the letter also reads.

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