Electric vehicle registrations in the UK surged by 41.6% in January securing a 23.7% market share, according to industry data from Reuters. However, this falls short of the government’s 28% mandate for the year raising concerns about affordability and adoption rates. SMMT Chief Mike Hawes emphasized that financial incentives including a halt on EV-related taxes, are crucial to bridging the gap

Financial incentives including a halt on EV-related taxes, are crucial to bridging the gap…

Despite the growth in electric vehicle sales the overall UK car market declined for the fourth straight month, with total registrations dropping by 2.5% to 139,345 units. Analysts warn that the gap between EV sales and government targets will widen further by 2026 with projections showing battery electric vehicles (BEVs) at 28.3% against a mandated 33%. As economic pressures weigh on consumer demand, industry leaders continue to push for stronger policy support to encourage EV adoption.