SMMT voices ZEV Mandate concerns to UK Government [Yahoo! Finance]
Ford Motor Company (F)
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Source: Yahoo! Finance
While BEV car sales in the UK have reached almost 300,000 in the first ten months, that represents 18.1% of the market – an increase on 2023, but still significantly short of the 22% target for this year (and of the 28% which must be achieved in 2025) under the UK Government's ZEV mandate. Manufacturers that fail to meet the compliance levels or do not sell enough ZEVs face penalties of GBP15,000 (USD20,000) for every non-ZEV unit sold over their mandated allowance. The SMMT – the UK auto industry's trade association – yesterday held a meeting with UK ministers to discuss the issue of the Zero Emission Vehicle Mandate. The ZEV Mandate was created by the last UK Government and came into law in January 2024. The SMMT stressed the potential negative impact of the ZEV Mandate on the UK's attractiveness as an investment location. The industry is also coming under pressure from slowing demand for BEVs and manufacturers are having to discount BEVs in the UK in order to raise sales to
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F
Earnings
- 10/28/24 - Miss
F
Sec Filings
- 11/19/24 - Form 4
- 11/19/24 - Form 4
- 11/19/24 - Form 4
- F's page on the SEC website