www.globaldata.com Open in urlscan Pro
63.34.100.148  Public Scan

Form analysis
1 forms found in the DOM

GET https://www.globaldata.com/store/

<form action="https://www.globaldata.com/store/" method="get" id="solr_facet">
  <div class="main-menu-report">
    <div class="input-group search">
      <input type="text" class="input-group-field ui-autocomplete-input search" tabindex="1" id="main_search_field" name="s" placeholder="Search" autocomplete="off" value="">
      <div class="input-group-button">
        <button type="submit" class="button" id="btncompanyname">
          <i class="gd-ico gd-magnif" style="padding-top:20px"></i>
        </button>
      </div>
    </div>
  </div>
</form>

Text Content

 * Visit Corporate Site

Sign in
Search
Menu
 * Sign In
 * Who We Are
   
   
   * WHO WE ARE
     
     Your powerful market insights platform. Book a demo
      * Mission & Values
      * Clients
      * Media
      * People
      * Why GlobalData
      * Resource Center
      * CSR
      * Partners
      * Careers
      * History
      * Investors
 * Industries We Cover
   
   
   * INDUSTRIES WE COVER
     
     Your curated industry news round-up. Subscribe now
      * Aerospace, Defense & Security
      * Agribusiness
      * Apparel
      * Automotive
      * Banking & Payments
      * Construction
      * Consumer
      * Foodservice
      * Healthcare
      * Insurance
      * Medical Devices
      * Mining
      * Oil & Gas
      * Packaging
      * Pharmaceutical
      * Power
      * Public Sector
      * Retail
      * Technology
      * Travel & Tourism
      * Sport
      * 
 * Who We Serve
   
   
   * WHO WE SERVE
     
     Build your customized intelligence tool. Book consultation
     
     CORPORATES
     
      * C-Suite
      * Innovation and R&D
      * Market and Competitive Intelligence
      * Strategic Planning & M&A
      * Marketing
      * Business Development
     
     FINANCIAL INSTITUTIONS
     
      * Investment Banking
      * Equity Research
      * Investment Management
      * Private Equity & Venture Capital
     
     PROFESSIONAL SERVICES
     
      * Management Consulting
      * Legal & Accounting
     
     OTHER
     
      * Academia
      * Government
      * Media & Advertising
 * What We Offer
   
   
   * WHAT WE OFFER
     
     Actionable sector insights & forecasts. Browse reports
     
     INTELLIGENCE CENTERS
     
      * Market Intelligence
      * Thematic Intelligence
     
     CONSULTANCY
     
      * Custom Solutions
     
     MARKETPLACE
     
      * Report Store
      * Company Profiles
      * Direct Data Services
      * Newsletters
      * Free Intelligence


 * Home
 * Newsletters
 * Automotive DECODED
 * Current:





AUTOMOTIVE DECODED

Previous edition: 27 Nov 2024
Share article



Get the full version straight to your inbox.
Exclusive access to our best-in-class data & intelligence
Subscribe now

 * Share on Twitter
 * Share on LinkedIn
 * Share via Email
 * Copy Link

Go to today's edition of the newsletter


‘ALARM BELLS RINGING' AS EV TRANSITION HITS UK AUTO INDUSTRY

SMMT says carmakers in Britain face an almost GBP6bn bill to comply with ZEV
Mandate in first year.

The UK automotive industry has called for ‘urgent government intervention’ to
safeguard the sector and Britain’s zero emission vehicle transition.

The call comes following the news that Stellantis to close a UK plant (Luton)
and said that its decision came in the context of the UK’s Zero Emissions
Vehicle (ZEV) Mandate which has been criticised by UK manufacturers who say it
will impose huge costs at a time when market demand for BEVs is undershooting
expectations.

The Society of Motor Manufacturers and Traders (SMMT) said its analysis suggests
weak demand for EVs and the need to fulfil ever-rising sales quotas will cost
the industry some GBP6bn in 2024, and even more next year – with the potential
for devastating impacts on business viability and jobs.

Heavy discounting of BEVs

Further, the SMMT points out that the mandated targets have given manufacturers
no option but to subsidise sales, incentivising fleet, business and consumer EV
sales through an estimated £4 billion worth of discounts. Despite this, the
industry looks likely to fall short of the 22% EV market share demanded,
potentially creating a £1.8 billion bill for compliance for those missing their
targets for cars alone, either to government or to competitors, most of whom
manufacture their EVs abroad. Van manufacturers will face further costs, with
market demand drastically behind the ambition set by the mandate.

 The result, the SMMT maintains, is a total ‘compliance bill’ of almost £6
billion in 2024 alone, with costs set to mount next year. With global
manufacturers already making production cutbacks due to weak EV demand, losses
of this scale could force brands to withdraw from the UK market and cause global
investors to ‘question the UK’s appeal as a manufacturing destination,’ the SMMT
warns.

Mike Hawes, SMMT Chief Executive, said: “We need an urgent review of the
automotive market and the regulation intended to drive it. Not because we want
to water down any commitments, but because delivery matters more than notional
targets. The industry is hurting; profitability and viability are in jeopardy
and jobs are on the line. When the world changes, so must we. Workable
regulation – backed with incentives – will set us up for success and green
growth over the next decade.”

The UK’s ZEV Mandate – how it works

The UK Government’s Zero Emission Vehicle (ZEV) Mandate targets EV share numbers
and will fine OEMs for non-compliance.

While BEV car sales in the UK have reached almost 300,000 in the first ten
months, that represents 18.1% of the market – an increase on 2023, but still
significantly short of the 22% target for this year (and of the 28% which must
be achieved in 2025) under the ZEV mandate.

Manufacturers that fail to meet the compliance levels or do not sell enough ZEVs
face penalties of GBP15,000 (USD20,000) for every non-ZEV unit sold over their
mandated allowance. While the UK Government has said it will talk to the
industry about how the ZEV Mandate works – suggesting their could be some
flexibility in its application to help the industry – it has also said it wants
to keep to the overall targets as part of the UK’s net zero commitments and to
maintain the phasing out of petrol and diesel only powertrain vehicle sales by
2030.

When the UK’s ZEV mandate was unveiled, the industry anticipated that 457,000
electric cars would be registered in 2024, which should have accounted for 23.3%
of all new car registrations. However, the SMMT said the latest outlook shows
94,000 fewer cars will be registered, totalling just 363,000 with a market share
of 18.7%. The situation is even worse for vans with the outlook halved to just
20,000 units expected to be registered this year, a 5.7% market share against a
2024 ZEV Mandate target of 10%.








EXPLORE COMPANY PROFILES  

Deep dive into the leading companies across your sector, uncover the drivers
behind their success, and get instant access to financial data & analysis. 

Start Your Search 


TRANSFORM YOUR B2B APPROACH WITH OUR MARKETING SOLUTIONS

Engage and influence key prospects with industry-leading business intelligence
and award-winning journalism, trusted by Siemens, HP, and many others.
Interested in learning more?

Request Demo


IN OUR PREVIOUS EDITION

Automotive Decoded

THE IMPACT OF EV INCENTIVES ON EUROPEAN AUTOMOTIVE SALES: A COMPARATIVE ANALYSIS

26 Nov 2024

Automotive Decoded

WILL NEW G45 X3 MAKE BMW UK'S NO.2 BRAND?

25 Nov 2024

Automotive Decoded

CRITICAL MINERAL RECYCLING COULD AVOID ENERGY TRANSITION SHORTAGES

22 Nov 2024


NOT SUBSCRIBED?
GET OUR DAILY INDUSTRY NEWS ROUND-UP



Give your business an edge with access to the latest insights for your sector.

Sign Me Up


NEWSLETTERS IN OTHER SECTORS

Aerospace, Defence & Security

IMOD to acquire Reshef missile ships from Israel Shipyards
27 Nov 2024

Apparel

Frasers buys South Africa's Holdsport to expand global sports retail footprint
27 Nov 2024

Automotive

Hydrogen showdown: Japan vs. Korea in the race for FCEV dominance
27 Nov 2024

Banking & Payments

Paysafe and Deutsche Bank partnership facilitates digital cash withdrawal across
Germany
27 Nov 2024

Construction

St John's Wood selects Multiplex for redevelopment project
27 Nov 2024

Consumer

Trump proposes 25% tariff on imports from Canada and Mexico
27 Nov 2024

Foodservice

Fresho secures $17m in Series B round to accelerate expansion
27 Nov 2024

Healthcare

RMH partners with ANDHealth for digital health solutions
27 Nov 2024

Insurance

McGill and Partners unveils new trade disruption insurance facility
27 Nov 2024

Medical Devices

Neuralink to launch feasibility trial with implant coupled to robotic arm
27 Nov 2024

Mining

Four Barrick Gold employees face charges in Mali
27 Nov 2024

Oil & Gas

Türkiye seeks US sanctions exemption to maintain gas flow from Russia
27 Nov 2024

Packaging

Michigan university targets $25M for packaging expansion
27 Nov 2024

Pharma

Roche's tiragolumab flops in another Phase III lung cancer trial
27 Nov 2024

Power

$30m to accelerate US energy interconnection process with AI4IX
27 Nov 2024

Retail

Walmart reveals plan to scale back some DEI initiatives
27 Nov 2024

Sport

New FIVB president Azevedo: CVC has professionalised commercial business
27 Nov 2024

Technology

Meta to face antitrust lawsuit trial in US in April
27 Nov 2024

Travel and Tourism

South Africa tightens hotel check-in rules
27 Nov 2024


EXPLORE OUR MARKET-LEADING INTELLIGENCE CENTERS

Request Demo

--------------------------------------------------------------------------------

 * Hot Topics
 * Terms & Conditions
 * Privacy Policy
 * Contact Us
 * Sitemap
 * Modern Slavery Statement

--------------------------------------------------------------------------------

Top of page
© GlobalData Plc 2024 | Registered Office: John Carpenter House, John Carpenter
Street, London, EC4Y 0AN, UK | Registered in England No. 03925319


SEARCH OUR PREMIUM DATA




×
Still looking?

Search companies, themes, reports, as well as actionable data & insights
spanning 22 global industries

Search site Continue on page

×
Explorer

Access more premium companies when you subscribe to Explorer

Find out more Close
×