In April, the UK Government announced updates to the Zero Emission Vehicle Mandate (ZEV Mandate) in hopes of supporting the industry’s upgrade to EVs.
The updates have been welcome by the industry but some concerns remain.
Robert Forrester, CEO of Vertu Motors, said: “Its better than no change. It provides some degree of clarity but the targets remain the same so they will be missed. They will have to go and have a look at this again. What I don’t understand is what the flexibilities it refers to in the announcement actually are.
“I would still be cautious about the new retail market. I think the manufacturers are still going to be seeking to maximise the mix of BEVs that could lead to rationing of petrol and diesel cars later on in the year and it could lead to discounting because I think retail demand for BEVs remains miles away from the government targets.”
Amid conversations about the EV market, Chinese EVs have been a strong talking point. With a surge in sales, and attention from consumers, the market share of Chinese brands is growing.
When asked about the future of Chinese brands in the UK, Forrester said: “No one knows what the future tarrif environments going to be like between the UK and China and no one knows what geopolitics might throw at the sector.
“America and China are in an interesting strategic position. If the future remains as it is today, where you’ve got significant Chinese overproduction, some excellent technology and battery technology coming out of China, a massive cost advantage making cars in China, then you have to be very strange not to conclude that the Chinese manufacturers are going to take increasing share of the UK car market.”
Vertu Motors’ portfolio continues to expand and reflect this.
Forrester added: “That is why we are partnered with BYD, the biggest car manufacturer in China, who’s product I am very impressed with. We are a big partner of MG which is a very good franchise and we have got some other partnerships with LEVC, smart etc.”