"Unsustainable" discounting means new electric car sales grow in spite of overall market contraction

  • 📰 autocar
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 67%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

“Unsustainable” discounting due to ZEV mandate means electric cars buck market trends

Registrations of electric cars in the UK continued to grow last month, despite a fall in the overall number of new cars hitting the road. According to new figures released by trade body the Society of Motor Manufacturers and Traders, a total of 153,610 new cars were registered in the UK during November. This is a 1.9% reduction compared with the same month a year ago. Yet electric car registrations increased by 58.4% to 38,581 units.

Manufacturers face fines of £15,000 for every single combustion-engined car that they sell in breach of that ratio. It is likely that some car companies are also pre-registering electric cars in order to bolster their ‘sales’ numbers in a bid to comply with the mandate. Indeed, electric cars account for 18.7% of all the 1,811,992 new cars registered so far this year, which is some way short of the 22% target.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 93. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines