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New car sales in the UK dip 2% in November, highlighting EV market trends - Global Banking & Finance Review
This image represents the decline in UK new car registrations by about 2% in November 2023, as reported by the SMMT. It underscores the increasing market share of battery electric vehicles amidst regulatory pressures. The image is relevant to the article discussing the UK automotive market and trends in electric vehicle sales.
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UK new car sales dip about 2% in November, preliminary data shows

Published by Uma Rajagopal

Posted on December 5, 2024

1 min read
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sustainability Automotive industry UK economy

(Reuters) – New car registrations in Britain fell about 2% in November, according to preliminary industry data released on Thursday.

The Society of Motor Manufacturers and Traders (SMMT) said the overall market share for battery electric cars exceeded the mandate target for the first time in November due to record levels of discounting.

Britain’s strict Zero Emission Vehicle (ZEV) mandates demand that automakers sell a higher proportion of EVs each year or face fines per non-compliant vehicle sold.

Year-to-date demand for battery electric cars remains at around 19%, according to the preliminary data.

SMMT will provide final figures for November at 9:00 a.m. GMT.

(Reporting by Raechel Thankam Job; Editing by Shreya Biswas)

Frequently Asked Questions

What is a battery electric car?
A battery electric car is a vehicle that runs entirely on electricity stored in batteries, using electric motors for propulsion, and produces no tailpipe emissions.
What are Zero Emission Vehicle (ZEV) mandates?
ZEV mandates are regulations requiring automakers to sell a certain percentage of zero-emission vehicles, such as electric cars, to reduce greenhouse gas emissions.
What is the significance of car registration data?
Car registration data indicates the number of new vehicles sold in a specific period, providing insights into market trends and consumer preferences.
What is the Society of Motor Manufacturers and Traders (SMMT)?
The SMMT is a trade association representing the UK automotive industry, providing data, insights, and advocacy for its members.

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