Latest news with #carregistrations
Times
2 days ago
- Automotive
- Times
Tesla sales bounce back in Britain
Tesla sales in the UK bounced back a little in June, according to the latest monthly new car registrations. The electric carmaker run by the billionaire Elon Musk sold 7,700 vehicles last month, up 3.7 per cent on June 2024. After a weak first half of 2025, however, Tesla registrations in the year to date remain down by 1.3 per cent year-on-year at 22,700. Earlier this week Tesla reported that its worldwide sales had fallen more than 13 per cent in the second quarter of the year. Its weak performance has been put down to a mixture of issues: Musk taking his eye off the ball as he became part of President Trump's government efficiency drive; a backlash by car buyers against Musk's politics and public pronouncements on social media; increased competition from the rise of Chinese electric carmakers led by BYD; and legacy manufacturers finally increasing their production of zero-emission vehicles under pressure from legislators and regulators.
The Independent
5 days ago
- Automotive
- The Independent
One country where Tesla deliveries have risen as sales drop elsewhere
Tesla recorded a 54 per cent year-on-year increase in car registrations in Norway in June, while sales dropped for a sixth straight month in Sweden and Denmark. The EV-maker has continued to face challenges as competitors gain market share and CEO Elon Musk 's popularity declines. While Tesla began taking orders for the new Model Y months ago, it only started delivering the car to customers in many European markets in June. In Norway, the first deliveries were made in May, when the company saw a spike in new Model Y sales. The Model Y registrations, for both the new and old versions, rose 115.3 per cent on a yearly basis to 5,004 units. In Sweden, Tesla's registrations, which are a measure of sales, fell 64.4 per cent in June from a year earlier. Tesla's sales were also down 61.6 per cent in Denmark, where the U.S. group's revised Model Y sales fell 31.2 per cent compared with last year to 1,155 cars, showing no signs of reviving the brand's fortunes. "A new model update is the classic extension strategy for a product that is used to inflate a product's lifecycle, giving a short-term bounce," Matthias Schmidt, an analyst from Schmidt Automotive, said. According to the research firm's data, Tesla has suffered six straight year-on-year losses in quarterly new registration volumes across Western Europe, "with the second quarter of 2025 looking like it could be a consecutive seventh", Schmidt said. "While the regional BEV (battery electric vehicle) market is growing, Tesla is shrinking," he added. Andy Leyland, co-founder of supply chain specialist SC Insights, said that significant percentage changes often hide small numbers, with some European markets only having hundreds or low thousands of sales, which can be impacted by logistics, stock levels and new product launches. Only the consumers could name the reason for Tesla's sales drop, whether it is Musk's politics or product-related issues, Leyland added. The publication of Tesla's monthly car registration figures coincided with a renewal of a dispute between Musk and U.S. President Donald Trump regarding a sweeping tax-cut and spending bill. "Backpedalling on Trump is likely a strategic move designed to dampen the political fallout, but it is likely too little too late," Schmidt said.
Yahoo
27-06-2025
- Automotive
- Yahoo
Why dealers can't afford to ignore salary sacrifice
Amid rising costs and waning consumer confidence, dealers must embrace salary sacrifice schemes to unlock full-price sales, boost electric vehicle uptake and gain an edge in a changing market argues Lash Saranna, co-founder and CEO of EZOO. According to new data from the Society of Motor Manufacturers and Traders (SMMT), new car registrations grew in March for the first time in five consecutive months – the market's best performance in the post-pandemic era.[1] However, as trade disruption and economic uncertainty weigh heavily on both vehicle manufacturers and consumers, fundamental concerns remain. Indeed, with UK wage growth lagging behind inflation, the cost of everyday life is impacting vehicle sales. A survey conducted by AutoTrader highlighted that 62% of UK consumers spent less on non-essentials in 2024. Just 45% were confident in being able to afford their next car.[2] While the effect on sales volumes is obvious, there has also been a decrease in high-margin, high-value sales. Around 70% of dealers say that customers are looking to purchase cheaper vehicles, while 65% are cutting back on options.[3] These challenges are further compounded by rising vehicle costs. Over the past decade, average list prices have increased from £27,035 to £45,218 – a 67% hike.[4] If we put finances aside temporarily, there remains mounting pressure to accelerate the transition to electrification. So far, it's working, with March recording a 43% increase in Battery Electric Vehicle (BEV) sales compared to last year. This means that BEVs and Plug-in Hybrid Electric Vehicles (PHEVs) currently make up 28.9% of new car registrations.[5] While this is positive news, there's no escaping the fact that BEV models still command a price premium. At a time when consumers are hesitant to make big purchases, this poses a conundrum. One of the most powerful ways in which the government is de-risking new vehicle access, while enabling consumers to enter the EV market, is via salary sacrifice. For dealers, this can offer a vital sales pathway. In a nutshell, salary sacrifice sees an employee and their employer develop a benefit agreement to reduce pre-tax income in exchange for a non-cash benefit – in this case a leased car. It is important to understand that salary sacrifice schemes affect personal tax considerations, such as Benefit in Kind (BIK) tax and National Insurance Contributions (NICs). Leasing a car through salary sacrifice decreases pre-tax income and may lower NIC requirements. However, at the same time, it also means that the employee must pay BIK, which is based on the car's P11D value, CO2 emissions, and the government-set BIK rate. Even still, salary sacrifice schemes can offer substantial savings versus private leasing; in some cases up to 60%. Navigating salary sacrifice can be challenging for employees and employers. Providers of quality schemes can make the process far simpler. Indeed, some operate specialist schemes that include insurance, servicing, maintenance and breakdown cover, in a single monthly price. Often this service can be branded to individual dealers and/or OEMs, which allows them to sell more cars at full price, have first option to fund them, own the complete customer journey and provide the full brand experience. Facing cautious customers and volatile economic times, UK dealers are rightly concerned about vehicle sales numbers. Simultaneously, the government is aiming to increase the percentage of EVs in the UK fleet. Salary sacrifice schemes can offer a vital solution that is beneficial for all parties. By promoting accessible salary sacrifice schemes, dealers can overcome cost barriers, drive sales, and accelerate the electric transition. [1] [2] [3] [4] [5] "Why dealers can't afford to ignore salary sacrifice" was originally created and published by Motor Finance Online, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Auto Car
05-06-2025
- Automotive
- Auto Car
The UK car market returned to growth last month but the industry says private buyers need incentives to swap to EVs
The UK new car market returned to growth last month as demand for electric cars soared, but the industry says the discounting behind the uptick is unsustainable and the government must do more to support the switch. The Society of Motor Manufacturers and Traders (SMMT) notes that it was the best May for new car registrations since 2021 but still 18.9% down on the same month in pre-pandemic 2019. It is also only the second month of growth so far in 2025, "reflecting brittle consumer confidence and economic turbulence". The organisation attributed the uptick primarily to a surge in fleet registrations, which climbed 3.7% year on year to just over 90,000, accounting for a 60% market share. Private car sales, meanwhile, were down 2.3% and accounted for 37.4% of the market - and while business registrations grew by a substantial 14.4%, they still made up only 2.6% of registrations. It was another month of growth for electric cars, with nearly 33,000 units registered – a 25.8% yearly increase – accounting for 21.8% of the market. That's still far below the 28% EV sales mix that manufacturers must achieve this year under the ZEV mandate, but well above the 13.6% and 11.9% shares held by hybrids and plug-in hybrids respectively. The SMMT says the rise in EV registrations comes off the back of the "attractive incentives" manufacturers are offering in a bid to drive uptake, although the organisation repeated its call for the government to "match this commitment with fiscal incentives". Halving VAT on new EV purchases, the SMMT says, would put 276,000 new EVs on the road in the next three years, in place of ICE vehicles, resulting in an annual reduction in CO2 emissions of six million tonnes. It also said the government could "send a signal that now is the time to switch" to EVs by reducing the VAT on public charging and removing electric cars from the Expensive Car Supplement (ECS) - a move the government is understood to be considering already. While EV sales were up, diesel's decline continued with a huge 15.5% drop in registrations last month, taking oil-burners to just a 5.2% market share. And while petrol cars still make up nearly half of registrations, their sales were down a heavy 12.5%. SMMT chief executive Mike Hawes said: "A return to growth for new car registrations in May is welcome but manufacturer discounting on new products continues to underpin the market, notably for electric vehicles. "This cannot be sustained indefinitely as it undermines the ability of companies to invest in new product development – investments which are integral to the decarbonisation of all road transport.
The Independent
05-06-2025
- Automotive
- The Independent
New car market returns to growth
The UK's new car market returned to growth in May with a 1.6% increase in registrations, figures show. Industry body the Society of Motor Manufacturers and Traders (SMMT) said 150,070 new cars were registered last month, up from 147,678 in May 2024. This represented the best May performance since 2021 and was only the second month of 2025 with year-on-year growth. Registrations of pure battery electric new cars rose by 25.8% to take a market share of 21.8%, up from 17.6% a year earlier. The SMMT said this was partly a result of manufacturers offering discounts to boost sales. It noted that under the Government's zero emission vehicle (Zev) mandate, at least 28% of new cars sold by each manufacturer in the UK this year must be zero emission, which generally means pure electric. Across all manufacturers, the year-to-date figure is 20.9%. SMMT chief executive Mike Hawes said: 'A return to growth for new car registrations in May is welcome but manufacturer discounting on new products continues to underpin the market, notably for electric vehicles. 'This cannot be sustained indefinitely as it undermines the ability of companies to invest in new product development – investments which are integral to the decarbonisation of all road transport. ' Next week's spending review is the opportunity for Government to double down on its commitments to net zero by driving demand through fiscal measures that boost the market and shore up our competitiveness.'
