Vertu Motors: Electric carmakers are slashing prices to meet emissions targets

Vertu Motors has cautioned the new car market is coming under pressure as carmakers scramble to meet Government zero-emission targets by cutting prices.

The car dealership group said demand for battery electric vehicles (BEVs) is trailing behind supply, leading to widespread price cuts.

The company said it generated revenues of £2.5 billion over the six months to the end of August, about 3% higher than the same period last year.

This was driven by used cars and aftersales, which includes vehicle servicing, while the volume of new car sales declined by about 6%.