EV share rises despite contracting market

SMMT: Tax hikes threaten electric vechicle sales targets targets

Electric vehicles accounted for more than a fifth of new car registrations as overall market contracts by -2.5% to 139,345 units.

However, the automotive industry is calling for halt a to EV tax hikes as latest outlook anticipates 23.7% market share for 2025, which will mean they fall below government targets.

The UK new car market fell by -2.5% to 139,345 units in January, according to data released by the Society of Motor manufacturers and Traders (SMMT), which says weak consumer confidence...