Finance
UK EV sales fail to meet 28% target despite March surge, industry data shows
Published by Global Banking & Finance Review®
Posted on April 4, 2025
2 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on April 4, 2025
2 min readLast updated: January 24, 2026
UK BEV sales hit a record in March but missed the 28% target. Government incentives are crucial as tariffs and infrastructure challenges loom.
(Reuters) -Sales of UK's battery electric vehicles (BEVs) rose to their highest ever in March but their market share held below the 28% target set by the government, industry data showed on Friday.
69,313 BEVs were sold in March, generally the busiest month of the year, as buyers rushed to beat future tax hikes and secure discounts, the Society of Motor Manufacturers and Traders (SMMT) said.
The outlook for the auto industry appears bleak after U.S. President Donald Trump announced a 10% baseline tariff on all imports, with higher rates for some countries. These levies followed 25% duties on auto imports that kicked in this week.
While Britain's EV market share improved to 19.4%, it is more than eight percentage points behind the 28% government mandate.
SMMT reiterated the need for government incentives to bolster EV demand as some consumers remain hesitant due to lack of charging infrastructure and high upfront costs.
"Without substantive government support for consumers, the current regulatory regime is undeliverable," SMMT Chief Executive Mike Hawes said in a statement.
Overall new car registrations in the UK rose more than 12.4% in March to 357,103 units.
"March was positive for the new car market, but the impact of the tariffs enforced this week and their impact on imports into the U.S. will be the elephant in the room that could also cause significant consequences for the UK car market," said Ian Plummer, commercial director at UK's largest automotive platform Auto Trader.
Meanwhile, data on Thursday showed that billionaire Elon Musk's all-electric brand Tesla sold 7,220 cars in Britain, down 0.6% from March 2024, adding to a slump in European markets.
Musk, a close ally of U.S. President Trump, has stirred controversy by courting far-right parties in Europe, which has deterred potential buyers.
(Reporting by DhanushVignesh Babu and Yamini Kalia in Bengaluru; Editing by Maju Samuel and Mrigank Dhaniwala)
The article discusses UK EV sales in March, highlighting a record high but missing the 28% market share target.
Despite a surge, UK EV sales missed the target due to lack of infrastructure and high costs, needing government incentives.
New tariffs on imports could impact the UK car market by increasing costs and affecting supply chains.
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