With 84,575 new cars sold in August, the Society of Motor Manufacturers and Traders (SMMT) recorded a 1.3% decrease over the same month in 2023.
However, the SMMT cautioned that a lot would depend on this month—which is “critical” because it marks the release of the new 74 number plates.
It made a point of urging additional government funding to support the growth of EV sales.
The global manufacturing landscape is still difficult because of a variety of factors, such as persistent financial barriers to purchasing EVs during a period of significant investment in EV technology.
European automakers, including those in the UK, are under increasing pressure to become more competitive, particularly in light of China’s lower-cost EV sales.
The European Union has imposed further taxes on electric vehicles (EVs) built in China, claiming that their lower price points are the consequence of state subsidies. High energy prices and wages are just two examples of the discrepancies.
