BIG SWITCH UP
Sales of EVs in UK soar as millionth pure battery electric car is registered
Plus shoppers should keep an eye out for new convenience stores coming to towns across the UK
THE millionth pure battery electric car has been registered in the UK and sales are booming, figures show.
Experts reckon more than a fifth of new vehicles in Britain will be electric this year with the target to hit 100 per cent by 2035.
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The Society of Motor Manufacturers and Traders said the total had jumped from 674,000 at the end of 2022 and now stands at 1,001,677.
It attributes the rise mainly to business and fleets.
The Tesla Model Y is most popular, with almost 39,000 sold.
To encourage more private buyers the SMMT wants the Government to halve the VAT charged on new electric cars.
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It’s a good time to be an electric vehicle buyer with discounts as high as 40%
Auto Trader's Ian Plummer
Boss Mike Hawes said: “It’s taken just over 20 years to reach our million EV milestone but with the right policies, we can double down on that in just another two.”
The Government’s zero emission vehicles mandate means at least 22 per cent of new cars sold by each manufacturer in the UK this year must be zero emission.
That generally means battery electric vehicles.
Opel-Vauxhall last week reported such a rise last year.
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From this year, all its cars and vans are available with a fully electric version.
Auto Trader’s Ian Plummer said: “It’s a good time to be an electric vehicle buyer with some manufacturers offering EV discounts as high as 40 per cent.”
Major car brand to unveil its first EV in days... & fewer than 2,000 will be made
He said ministers could do more, such as equalising VAT on private and public charging points.
An MPs’ climate change report today urges ministers to instil confidence in Brits to ditch petrol and diesel cars.
Last month’s total number of cars registered was 142,876, up 8 per cent on January 2023.
Frugal nights bad for retail
UK retail sales climbed by just 1.2 per cent last month, according to the British Retail Consortium RETAIL (BRC)/KPMG Retail Sales Monitor.
BRC boss Helen Dickinson said: “The January sales helped to boost spending in the first two weeks, but this did not sustain throughout the month. Larger purchases remained weak as the higher cost of living continued into its third year.”
Consumer card spending grew just 3.1 per cent as people opted for nights in, said Barclays.
The bank’s Karen Johnson said: “Brits took on a more frugal approach in January.”
Geiger counts
FASHION accessories brand Kurt Geiger has success bagged up.
December was the most profitable month in the history of the company with sales climbing 15 per cent to £45million compared to December 2022.
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The firm has been boosted by celebrities such as J-Lo being pictured with its products.
Store sales in the UK rose 12 per cent, with online sales up 45 per cent.
In the US, sales soared 60 per cent.
Boss Neil Clifford, said: “The results underline Kurt Geiger’s transformation to a global accessories brand with a cult following.”
UK at our service
THE UK’s services sector continued to rebound in January, with business activity rising at the fastest rate since last May, according to S&P Global/Cips UK services PMI.
Director Tim Moore said: “New orders rebounded this winter as receding recession risks and looser financial conditions led to greater spend.”
The sector was also helped by an easing of inflationary pressures as energy and fuel costs dropped.
Express rebrand by Asda
SUPERMARKET chain Asda will convert 109 Co-op and Eg Group convenience stores to Asda Express in February.
It’s part of its ambition to reach 1,000 shops in the UK and make it the second largest grocery chain in the country.
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It plans to turn all 470 convenience sites it snapped up for £438million in August 2022 from the Co-op and EG Group into Express stores by the end of March.
It has already converted 259 of them, many of which are in the south of England where Asda has “traditionally been underrepresented”.
Asda vice-president Andy Perry said: “Our long-term strategy is to become the number two player in UK grocery.”
Since being taken over by the billionaire Issa brothers and TDR Capital in 2021, the chain has expanded into the growing food-to-go and convenience market, taking on rivals Sainsbury's Local and Tesco Express.
Vodafone rise
TELECOMS giant Vodafone said UK sales climbed 5.2 per cent in the last three months of 2023 as the group won more customers.
Spin-off brand Voxi added 26,000 customers while Vodafone’s Cloud Services business saw revenue rise by a fifth.
In Germany, customers turned away after a price rise while the firm is trying to offload its Italian business.
Meanwhile, Vodafone said the planned merger of its UK arm with rival Three UK should be completed by the end of the year.
Price of Beauty
FORMER boss of Revolution Beauty Adam Minto has agreed to pay the firm £2.9million over an auditing dispute.
Minto quit in November 2022 over a row about questionable share sales and loans to employees.
CMC 200 job cut
SPREAD betting company CMC Markets is axing 200 jobs — almost a fifth of its workforce — to save the business £21million.
City traders have been hit by investors cutting back on markets, leading to a slump in deals last year.
London-based CMC has 14 offices globally in Germany, France, Singapore and Australia.
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It said it was making savings by merging support teams, streamlining reporting lines and automating processes.
Shares climbed 19 per cent yesterday on the news.
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