Britain’s new car market is forecasted to decline by about 1% in November, according to preliminary data from the Society of Motor Manufacturers and Traders (SMMT), released on Thursday. This comes ahead of the UK’s budget, which introduced new taxes on electric vehicles (EVs) set to take effect in April 2028.
Despite this, electrified vehicles are expected to make up more than 50% of total vehicle sales for the third month in a row. However, the growth in EV uptake is the slowest it has been in nearly two years, according to the data.
The final November figures will be published at 0900 GMT.
The UK government has announced plans to introduce a pay-per-mile tax on electric and plug-in hybrid vehicles starting in April 2028, as part of the budget. Finance Minister Rachel Reeves explained that the new tax would help offset the loss in fuel duty revenue as more drivers transition to cleaner vehicles.