Mike Hawes, the SMMT's chief executive, said the UK's ZEV mandate had forced companies into offering “unsustainable” discounts on electric cars last year. Money for further price cuts in 2025 will be more thinly spread, as a result of separate costly net zero rules coming into force across Europe.
All the major newspapers this morning rags and broad sheets are explaining the serious damage to the U.K. car industry .
It seems the Zero Emissions Vehicle Mandate has / will result in all manufacturers paying a fine of £15k per ICE vehicle sold above HMG’s allowed quota. Most makers to avoid this draconian penalty have been substantially reducing the EV price in an effort to improve sales. The knock on is the alleged reduction in EV used values and reduction in Manufacturers profit margin. Indeed we have seen already closures of vehicle making plants in the U.K.
From what I read the general consensus is the ideology of all EV new cars by 2030 will be an economic disaster. Judge for yourselves from all the excellent articles on line today.