Finance
UK new car market expected to fall slightly in November, SMMT data shows
Published by Global Banking and Finance Review
Posted on December 4, 2025
1 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on December 4, 2025
1 min readLast updated: January 20, 2026
The UK car market is projected to fall by 1% in November, with electric vehicles maintaining over 50% market share. New taxes on EVs will start in April 2028.
Dec 4 (Reuters) - Britain's new car market is expected to fall by around 1% in November, ahead of the UK's budget which introduced new taxes on electric cars from April 2028, according to preliminary industry data released on Thursday.
Electrified vehicles are set to mark their third consecutive month with over 50% share of the total vehicle market, although EV uptake records its weakest growth in almost two years, data by the Society of Motor Manufacturers and Traders (SMMT) showed.
The final figures for November will be published at 0900 GMT.
Britain will levy a pay-per-mile tax on electric and plug-in hybrid vehicles from April 2028, Finance Minister Rachel Reeves said in her budget in the previous week, to offset some of the fuel duty revenue that will be lost as drivers switch to cleaner cars.
(Reporting by Nishara K.P in Bengaluru)
The UK new car market refers to the sector of the automotive industry that deals with the sale of brand new vehicles in the United Kingdom.
Electric vehicles (EVs) are cars that are powered by electric motors instead of traditional internal combustion engines, using electricity stored in batteries.
A pay-per-mile tax is a taxation system where drivers are charged based on the number of miles they drive, often used to offset lost fuel duty revenue.
EV uptake refers to the rate at which consumers are adopting electric vehicles, typically measured by sales figures and market share.
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