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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Finance

    Posted By Global Banking and Finance Review

    Posted on July 4, 2025

    Featured image for article about Finance

    (Reuters) -Tesla's new car sales in Britain rose year-on-year in June amid a broader recovery in the electric-vehicle market, data showed on Friday, as the U.S. auto maker started deliveries of its updated Model Y last month.

    Overall, Britain's new car registrations grew 6.7% in June from a year earlier to 191,316 units, the Society of Motor Manufacturers and Traders (SMMT) said in a report, boosted by demand for battery electric vehicles.

    Though sales remained below pre-COVID levels, it was the best June since 2019. Battery electric car demand rose 39% to 47,354 units, with every one in four buyers going electric, the SMMT said.

    "That EV growth, however, is still being driven by substantial industry support with manufacturers using every channel and unsustainable discounting to drive activity, yet it remains below mandated levels," SMMT Chief Executive Mike Hawes said in the report.

    Tesla sold 7,719 units in June, up 14% from a year earlier, according to the SMMT. Data from research group New AutoMotive earlier in the day showed a 12% increase in June to 7,891 units.

    The SMMT and New AutoMotive use different sources of data and methods of calculation, explaining the differences in the figures published.

    Despite the growth in June, Tesla's UK sales are still down nearly 2% so far this year, while those of Chinese rival BYD have increased nearly four-fold to 2,498 units, according to New AutoMotive.

    US automaker Ford's EV sales grew the fastest among its rivals in Britain in the first half of 2025, rising more than four-fold from a year earlier, New AutoMotive said.

    "Further growth in sales, and the sector, will rely on increased and improved charging facilities to boost mainstream electric vehicle adoption," Jamie Hamilton, automotive partner and head of electric vehicles at Deloitte, said.

    The US-UK trade deal lowering some tariffs on imports from Britain, including for British car manufacturers that will now be able to export to the U.S. under a reduced 10% tariff quota from an earlier 27.5%, came into effect this week.

    (Reporting by Raechel Thankam Job and Yadarisa Shabong in Bengaluru; Editing by Leroy Leo and Subhranshu Sahu)

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