U.K. industry body cuts 2023 sales outlook for EVs

Sales of full-electric vehicles in 2023 are expected to take a hit in the U.K. from inflationary pressures and lack of charging points, though the overall outlook for British new-car registrations has improved, the UK's auto industry body, the Society of Motor Manufacturers and Traders (SMMT), said.

The SMMT has downgraded its forecast for battery electric vehicles' market share to 18.4 percent of sales for the year, from a previous estimate of 19.7 percent, the body said in a statement on Thursday.

Overall new-car registrations rose for the ninth consecutive month in April, jumping 12 percent to 132,990 units, according to the industry data released by the SMMT.

While the SMMT's outlook for BEVs softened, the sector recorded strong performance in April, with year-on-year deliveries of BEVs surging by more than half to 20,522 vehicles and market share jumping from 10.8 percent to 15.4 percent.

"The broader economic conditions and charge point anxiety are beginning to cast a cloud over the market’s eagerness to adopt zero-emission mobility at the scale and pace needed," SMMT CEO Mike Hawes said in the statement.

Hawes said the new-car market was increasingly bullish as easing supply pressures provide a much-needed boost to sales.