UK Industry Group Calls EV Discounts Unsustainable

(MENAFN- Investor Brand Network) 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.

While automakers in the UK are complaining about the government's policies aimed at accelerating EV uptake, auto sector players like Massimo Group (NASDAQ: MAMO) in the U.S. have to...

Read More>>

About GreenCarStocks

GreenCarStocks (“GCS”) is a specialized communications platform with a focus on electric vehicles (“EVs”) and the green energy sector. It is one of 75+ brands within the Dynamic Brand Portfolio IBN: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries ; (2) article and editorial syndication to 5,000+ outlets ; (3) enhanced press release enhancement to ensure maximum impact ; (4) social media distribution via IBN to millions of social media followers ; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today's market, GCS brings its clients unparalleled recognition and brand awareness. GCS is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from GreenCarStocks, text“Green” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit

Please see full terms of use and disclaimers on the GreenCarStocks website applicable to all content provided by GCS, wherever published or re-published: /Disclaimer

GreenCarStocks
Austin, Texas

512.354.7000 Office
[email protected]

GreenCarStocks is powered by IBN

MENAFN11052026000224011066ID1111095113