UK and EU agreement ‘significant’ – SMMT
The Society of Motor Manufacturers and Traders (SMMT) has described the new UK and EU agreement as ‘significant’.
The agreement is intended to support greater movement of young people through further co-operation of a youth experience scheme.
The UK and the EU have also agreed to co-operate on emissions through linking their respective Emissions Trading Systems, which could result in businesses avoid the EU’s carbon tax due to come in next year.
Mike Hawes, SMMT chief executive, said: “The EU remains the UK automotive industry’s largest and closest trading partner, so the progress announced today towards a deeper strategic partnership is significant, especially given the broader geopolitical headwinds. The agreement to protect steel from tariffs and the intention to link the UK and EU carbon markets – a long-held ambition – should pave the way to greater price stability and reduced costs.
“As talks continue, we need to see an unequivocal commitment to avoid tariffs on all products, improve customs cooperation and enhance our regulatory partnership – all measures that will help maintain consumer choice and affordability, and support economic growth on both sides of the channel.”
Meanwhile, the SMMT has reported that 2,532 buses, coaches and minibuses were registered in the first quarter of the year, representing a rise of 49.8% on the same period last year.
This was the eighth successive quarter of growth and represents the best start to a year since 2008.
However, Britain’s new heavy goods vehicle (HGV) market declined by 12% in the first three months of 2025 with 9,738 new trucks joining the road.
Registrations of new zero emission HGVs almost doubled, up 94% to take an overall market share of one per cent, which is up from 0.5% a year ago and marks the highest proportion of zero emission trucks registered in a quarter.
