Pramod Thomas is a senior correspondent with Asian Media Group since 2020, bringing 19 years of journalism experience across business, politics, sports, communities, and international relations. His career spans both traditional and digital media platforms, with eight years specifically focused on digital journalism. This blend of experience positions him well to navigate the evolving media landscape and deliver content across various formats. He has worked with national and international media organisations, giving him a broad perspective on global news trends and reporting standards.
THE UK car industry sold a record number of all-electric vehicles in 2024 but still fell short of the government's mandated targets, an industry trade body said Saturday (4).
Battery electric vehicles made up 19.6 per cent of new cars sold last year, said the Society of Motor Manufacturers and Traders, which was below the government's 22-per cent target for carmakers.
The SMMT reported a "record annual volume" of 382,000 battery electric vehicles sold last year.
The automobile trade body had already warned in October that carmakers were at risk of missing government targets, with manufacturers facing government penalties of £15,000 ($18,625) per polluting vehicle sold above the limits.
However, the government has since assured that it expects all manufacturers to avoid the penalties in 2024 by taking advantage of flexibility mechanisms that will take into account, among other things, emissions reductions across the whole fleet.
The group's chief executive, Mike Hawes, said that while the market share of electric vehicles grew, this came at a "huge cost" to the industry.
He referred to the "billions invested in new models" supplemented by "unsustainable" incentives provided by the industry.
Hawes urged the government to review the mandate and to do more to stimulate private demand, including improving charging infrastructure.
The SMMT also warned that reaching the thresholds in 2025 will be "even more intense" with the mandates pushed up to 28 percent of cars sold.
There are also concerns over the Labour government's pledge to bring forward the ban on the sale of new petrol and diesel vehicles to 2030, after the previous Conservative government pushed it back to 2035.
Overall, the SMMT reported that the number of new vehicles registered in the UK increased to almost 2 million, up by 2.6 per cent year-on-year.
It said that growth was mainly driven by business purchases as demand from private buyers dropped.
Despite a second successive year of growth, the overall car market remains below pre-pandemic levels.
Shein’s UK sales hit £2.05bn in 2024, up 32.3 per cent year-on-year, driven by younger shoppers.
The retailer benefits from import tax loopholes unavailable to high street rivals.
Faces mounting criticism over labour practices and sustainability as it eyes a London listing.
Tax edge drives growth
Chinese fashion giant Shein is transforming Britain’s online clothing market, capturing a third of women aged 16 to 24 while benefiting from tax breaks unavailable to high street rivals.
The fast-fashion retailer’s UK sales surged 32.3 per cent to £2.05bn in 2024, according to company filings, with pre-tax profits rising to £38.3m from £24.4m the previous year. The growth comes as established players like Asos struggle in an increasingly competitive landscape where young consumers prioritise value above all else.
Shein has partly benefited from a tax break on import duty for goods worth less than £135 sent directly to consumers, The rule lets overseas sellers send low-value goods to the UK tax-free, disadvantaging local businesses.
“The growth of Shein and Temu is a huge factor,” said Tamara Sender Ceron, associate director of fashion retail research at Mintel told The Guardian. “It is particularly successful among younger shoppers. It is also a threat to other fashion retailers such as Primark and H&M because of its ultra-low price model that nobody can compete with. It’s changed the market.
"The market dynamics reflect broader shifts in consumer behaviour. Online fashion sales reached £34bn last year, up 3 per cent, according to Mintel, but shoppers have become more cautious as disposable incomes shrink, and fashion competes with holidays, festivals, and streaming services for wallet share.
Scrutiny builds
Despite its commercial success, Shein faces mounting scrutiny. The company filed initial paperwork last June for a potential London Stock Exchange listing, but critics question its labour practices and environmental impact.
"Regardless of whether Shein gets listed on the London Stock Exchange, no company doing business in the UK should be allowed to play fast and loose with human rights anywhere in their global supply chains,” said Peter Frankental, economic affairs programme director at Amnesty International UK to BBC.
The “de minimis” rule has drawn renewed attention after US President Donald Trump scrapped a similar measure during his trade war with China.
Shein’s UK operation now employs 91 people across offices in Kings Cross and Manchester, focusing primarily on local market expertise.
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