The Chancellor’s Autumn Budget has caused the UK car market to plummet in November as Rachel Reeves has been accuses of “punishing” drivers with tax hikes.
The Society of Motor Manufacturers and Traders research shows the new car market saw new registrations decline by 1.6%.
This is the sixth monthly fall of the year as there is weakening appetite for buyers as purchases fell 5.5%.
Sue Robinson, chief executive of the National Franchised Dealers Association, said, “As the year draws to a close and the final registrations are coming in, the Chancellor’s Budget announcement has not reassured the industry.
She argued that the pay per mile for electric vehicles will lead to a slump in demand.
Mike Hawes, SMMT chief executive, warned, “We should be taking every opportunity to encourage drivers to make the switch, not punishing them for doing so, else the ambitions of Government and industry will be thwarted.
Melanie Lane, chief executive at Pod, said, “A growth slowdown in November proves that now is the wrong time to introduce taxes on EV drivers and that further cost pressures for manufacturers and fleet managers will keep the sector from achieving a 28 per cent market share target set by ZEV mandate.
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