The Society of Motor Manufacturers and Traders (SMMT) has emphasised the importance of maintaining a strong relationship with the European Union, despite the UK’s departure.
This was highlighted during a recent visit to Brussels to discuss sector collaboration with ACEA and other stakeholders.
Recent vehicle registration data indicates shared market challenges between the UK and EU. While February’s figures are often volatile, overall demand in the UK has declined for five consecutive months. Battery electric vehicle (BEV) uptake increased, accounting for a quarter of registrations, driven by manufacturer subsidies and impending tax changes.
The upcoming implementation of the Vehicle Excise Duty (VED) expensive car supplement on many EV models is expected to further strain the market. The SMMT has called for policies that encourage EV adoption, as current market share falls below the mandated 28%.
The SMMT is also focusing on global trade partnerships, supporting a Department for Business and Trade mission to Turkey and planning a visit to Kazakhstan in April.
Domestically, the SMMT will host Electrified 2025, a conference bringing together 400 representatives from various sectors to discuss the EV transition. Delegates from nine countries and regions will attend. The event aims to address the challenges and opportunities associated with electrification.
