UK Industry Group Calls EV Discounts Unsustainable
A UK industry group says electric vehicle discounts are unsustainable as manufacturers continue to pour billions into price cuts to meet government quotas. The Society of Motor Manufacturers and Traders estimates producers spent over £5 billion ($6.7bn) slashing prices last year, working out to approximately $14,838.56 per battery-electric vehicle. Chief Executive Mike Hawes said this degree of financial support from manufacturers cannot persist, particularly as requirements escalate to 33% this year from the prior 28% benchmark. Britain registered just over two million new cars in 2025, marking the third consecutive year of expansion. Electric vehicles represented 473,340 registrations, capturing 23.4% of the market. While this represents growth from 2024 levels,…