Rishi Sunak last month delayed a ban on the sale of new petrol and diesel cars as part of a green policy overhaul. Photo: Paul Grover
Rishi Sunak's «confusing» net-zero policy threatens to derail the recovery in car sales and hit the wider market, one of the UK's largest dealerships has warned.
Vertu Motors, which operates 190 petrol stations under brands including Bristol Street Motors and Macklin Motors, said demand from retail customers had been «muted» in recent months.
The Prime Minister said last month that The ban on the sale of new petrol and diesel cars will be lifted. delayed by five years until 2035 as part of a major overhaul of the UK's net-zero emissions policy.
However, the government has maintained its zero-emission vehicle (ZEV) mandate for automakers. Rules require four out of every five cars sold by manufacturers to be electric by the end of the decade.
Robert Forrester, chief executive of Vertu, said the government's «confused messaging» could help weaken demand further. car sales. He added that automakers are resorting to discounts and promotions to try to boost falling demand.
Tesla, the world's largest electric vehicle maker, has repeatedly cut prices over the past 12 months as it tries to boost sales amid the rising cost of charging electric vehicles.
Mr Forrester said: “These market dynamics, combined with the ZEV mandate, could hinder the recovery of the new car market over the next few years. years.»
Manufacturers will have to ensure that 80% of their new car sales are electric by 2030, with targets gradually rising from 22% to be achieved early next year. Carmakers that fail to meet annual targets must either sell more electric vehicles in the future, buy credits from competitors, or pay a fine of £15,000 per car.
Mr Forrester told The Telegraph that the policy would «potentially lead to a drag on growth levels» and called the decision to maintain targets for automakers «slightly baffling».
He predicted that manufacturers might even start hold back deliveries of electric vehicles in the coming months to ensure they have enough stock to meet the 22 percent target when it comes into force next year.
He added that the new post-Brexit tariffs cross-Channel import and export regulations for electric vehicles due to come into force in January have become «another challenge».
Under so-called rules of origin laws, which come into force from January, 45% of the cost of an electric car must come from either the UK or the EU. This figure is expected to rise to 65% in 2027.
The government is seeking to delay the changes, although France is believed to oppose the request.
Although sales of new electric vehicles in the UK have risen by 40.5% this year, Vertu said this was exaggerated by a jump in fleet sales to large organisations, while sales to retail customers fell by 8.5%.
It said the average price of a used electric car has fallen 44% over the past year due to supply shortages a year ago. “Used EV prices appear to have bottomed out and a new, more affordable base price has been set for used EVs,” it said.
New car sales in the UK have fallen for three years in a row as chip shortages slash production, falling costs of living and rising interest rates.
Vertu's comments come after The company announced a 21 percent increase in sales to £2.4 billion in the six months to September, boosted by growth from the acquisition of Helston Garages. Profit before tax increased by 11.7%. The Gateshead-based company also increased its dividend.
The company said it had developed a strategy to sell more Chinese electric vehicles, which have «some cost and potentially technology advantages» and could take market share from established car makers.
BYD, China's largest electric vehicle maker, has vowed to «destroy» established Western rivals with cheaper cars. This week the company came close to overtaking Tesla in electric vehicle sales.
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