Society of Motor Manufacturers and Traders (SMMT)’s Post

#SMMTSummit addresses some of the key issues for automotive; the industry roadmap for the net zero transition; how to improve the UK’s competitiveness and compete against fierce global competition; and the opportunities that will arise for businesses that seize the moment and innovate now for the future

SMMT and 12 major vehicle manufacturers representing more than 75% of the market, have today written to the Chancellor calling for measures to support consumers and help speed up the pace of the EV transition. These include: - Temporarily halving VAT on new EV purchases to put more than two million new ZEVs (rather than petrol or diesel) on the road by 20283 - Scrapping the VED ‘expensive car’ tax supplement for ZEVs, due next year, to avoid penalising buyers - Equalising VAT on public charging to match the 5% home charging rate, and mandating infrastructure targets to support those who cannot charge at home - Maintaining and extending the business incentives that are working, including Benefit in Kind which supports company cars and those on salary sacrifice schemes, and the important Plug-in Van Grant https://lnkd.in/esFEDZAK

Demand for new vans rises in September but EV uptake falls again - New light commercial vehicle (LCV) registrations up 8.3% in best September for four years. - Battery electric van (BEV) uptake falls -0.5%, down for the sixth time in 2024 with market unlikely to reach the UK’s ambitious and mandated 2024 zero emission vehicle targets. - Sector calls for long-term provision of Plug-in Van Grant and mandated van-suitable chargepoint rollout – critical to operator confidence in zero emission fleet operations. https://lnkd.in/es8nsVJY

Our letter to Chancellor Rt Hon Rachel Reeves from 12 major vehicle manufacturers representing more than 75% of the market, calling for measures to support consumers and help speed up the pace of the EV transition BMW Group MINI UK Honda of the UK Manufacturing Ltd. JLR Kia UK Limited Nissan Motor Corporation London EV Company (LEVC) Mercedes-Benz in the UK Polestar Stellantis Toyota Motor Corporation Volkswagen Group https://lnkd.in/esFEDZAK Louise Haigh MP Jonathan Reynolds MP HM Treasury