UK Electric Vehicle Sales Forecast Downgraded Amid Weak Demand

Industry faces challenges meeting government targets despite rising overall car sales and manufacturer discounts.

The Society of Motor Manufacturers and Traders (SMMT) revised its 2024 EV sales forecast from 19.8% to 18.5%.
Weaker demand from private buyers is a significant concern, affecting the pace of transition to electric vehicles.
Manufacturers risk penalties if they fail to meet the zero emission vehicle mandate, which requires 22% of sales to be electric in 2024.
Overall UK car sales have grown for 24 consecutive months, with fleet purchases driving the increase.
Industry leaders call for greater consumer incentives and infrastructure improvements to support EV adoption.