UK car industry body cuts 2024 sales forecast on weak EV demand:
Britain's auto industry body cut its 2024 forecast for new car sales on Monday ...
reuters.com/world/uk/uk-new-car-sales-grew-july-preliminary-industry-data-shows-2024-08-05/
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UK Lowers 2024 EV Sales Outlook Amid Weak DemandUK new car sales forecast cut to 1.97 million units, with July marking 24 months of growth despite EV market challenges.
Key FactsAug 5, 2024 · Reading time: ~45 sec.
Summary created with AI assistance · Source: reuters.com
Summary created with AI assistance · Source: reuters.com
- The Society of Motor Manufacturers and Traders (SMMT) reduced the 2024 new car sales forecast slightly to 1.97 million units.
- July new car sales increased by 2.5% year-on-year, marking the 24th consecutive month of growth.
- Battery electric vehicles (BEVs) market share is now forecast at 18.5%, down from the earlier expectation of 19.8%.
- Weak private retail demand for electric vehicles remains the primary concern despite generous manufacturer discounts.
Weakening private retail demand particularly for EVs and despite generous manufacturer discounts, is the over-riding concern.— SMMT chief Mike Hawes said in a statement.
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Key FactsVolkswagen and BMW Surpass Tesla in EV Sales
Mar 24, 2025 · Reading time: ~30 sec.
Summary created with AI assistance · Source: reuters.com
Summary created with AI assistance · Source: reuters.com
- In February 2024, Tesla's electric vehicle sales in Europe fell behind those of Volkswagen and the BMW Group.
- Tesla's sales dropped by 44%, while Volkswagen's surged by 180%, and BMW along with Mini sold nearly 19,000 EVs.
- Tesla's market share decreased to 9.6%, marking its lowest February performance in five years.
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