Using data from the SMMT, Cox Automotive found that the updates to the ZEV Mandate announced by the UK government earlier in the week will only save the UK’s automotive industry around £319 million in fines.
Fines for each car within a manufacturer’s shortfall have been reduced from £15,000 to £12,000 and for vans from £18,000 to £15,000.
Philip Nothard, insight director at Cox Automotive Europe, said, “While the automotive industry welcomes adjustments to alleviate the mounting pressure it is experiencing, the adjustments to the ZEV mandate are marginal within the bigger picture.
“As over 15% of the industry’s exports are under threat due to tariffs, along with complications in the global supply chain and inconsistent consumer demand for EVs, much more needs to be done.
“As an industry, we are committed to building an electric future, but it must be done in an economically sustainable manner. Our research has found that consumer incentives, improvements in the nation’s charging infrastructure, and policies are needed to make a greater impact on the unsustainable costs of this transition.”
The updates to the ZEV Mandate aim to reduce the financial burden on manufacturers who have been under pressure to boost EV adoption.
