The Society of Motor Manufacturers and Traders (SMMT) has expressed concern over the upcoming change to Vehicle Excise Duty (VED) for electric vehicles, stating that it could discourage consumer adoption.
In a recent statement, SMMT Chief Executive Mike Hawes highlighted the importance of government incentives in driving the transition to electric vehicles. While EV sales are increasing, they remain below government targets.
Hawes noted that the upcoming VED changes, which will see most EVs liable for the Expensive Car Supplement, will significantly increase the cost of ownership for many consumers. This, coupled with the ongoing economic challenges, could deter consumers from purchasing electric vehicles.
SMMT emphasised the need for continued government support to encourage the widespread adoption of EVs.
In other news, SMMT hosted the inaugural Drivers of Change awards, recognising individuals who are driving positive change within the automotive sector, particularly in the areas of diversity and inclusion.
The awards highlight the importance of fostering a diverse and inclusive workforce within the automotive industry.