SMMT warns the government that the new 3p per mile tax risks undermining crucial zero-emission vehicle targets for Electric Vehicles.

UK New Car Market: November Dip and the EV “Wake-Up Call”

The UK’s new car market faced a challenging November, with overall registrations falling by 1.6% to 151,154 vehicles. While a single-digit dip might seem minor, the data beneath the surface tells a more concerning story for the green transition. Crucially, the pure battery Electric Vehicles sector recorded its weakest year-on-year growth in almost two years, signalling a potential cooling in what has historically been a fast-accelerating market.

In November, 39,965 new pure electric vehicles were registered, marking a modest 3.6% increase from the same month last year. This was the smallest annual increase since late 2023, excluding the sharp contraction seen in December of that year which was largely driven by unique supply chain bottlenecks.

Consumer Hesitation & The ICE Preference

The Society of Motor Manufacturers and Traders (SMMT) attributed the overall market decline, the sixth monthly fall this year, primarily to a 5.5% drop in demand from private buyers. While fleet purchases saw a slight rise of 0.2%, the retail sector remains sluggish.

This stagnation suggests a widening gap between corporate adoption and individual consumer sentiment. Despite a record number of models now available in UK showrooms, private buyers are increasingly opting to stick with familiar petrol and diesel alternatives or are choosing to hold onto their existing vehicles for longer. The continued appeal of traditional Internal Combustion Engine (ICE) vehicles, coupled with persistent economic pressure, the increased cost of insurance and high upfront costs for new electric tech, is visibly slowing the pace of the transition among the general public.

A New Tax Burden: The 3p-Per-Mile “eVED”

The industry’s concerns were further amplified by the recent Autumn Budget. SMMT Chief Executive Mike Hawes issued a clear warning:

“Even in a fragile market, zero emission vehicle uptake continues to rise, which is exactly what we need. But the weakest growth for almost two years should be seen as a wake-up call that sustained increase in demand for Electric Vehicles cannot be taken for granted.”

A major point of contention is the Government’s decision to introduce a 3p-per-mile tax on Electric Vehicles (officially termed electric Vehicle Excise Duty or eVED) starting in April 2028. Chancellor Rachel Reeves introduced the measure to offset the long-term decline in fuel duty revenue. Under the new system:

• Electric Vehicle Drivers: Will pay 3p per mile.
• Plug-in Hybrid (PHEV) Drivers: Will pay 1.5p per mile.
• Annual Impact: For an average driver covering 8,000 miles a year, this equates to roughly £240 in additional annual taxes, on top of the standard VED rate.

While the Government has attempted to soften the blow by increasing the “Expensive Car Supplement” threshold from £40,000 to £50,000 for Electric Vehicles from 2026, industry leaders argue that the prospect of a “pay-per-mile” future may be deterring buyers today.

Mandate vs. Reality: The Sales Gap

The data reveals a growing friction between legislative targets and market reality. Electric Vehicles accounted for 22.7% of the total market share through the first 11 months of the year. While this is a record volume, it sits uncomfortably below the Government’s Zero-Emission Vehicle (ZEV) mandate, which requires manufacturers to hit a 28.0% sales target in 2025.

However, there is some nuance in how these targets are calculated. Green consultancy New Automotive suggests that once “flexibilities” such as trading credits and banking over-achievements from previous years, are accounted for, the effective 2025 sales target for many manufacturers is closer to 21.7%.

Even with these flexibilities, the industry is under immense pressure. Manufacturers are currently forced to rely on heavy discounting to move Electric Vehicle stock and avoid hefty fines, a strategy that many experts warn is unsustainable in the long term without more robust consumer incentives, such as VAT cuts on public charging or direct purchase grants.

Looking Ahead

As we move into 2026, the UK car market sits at a crossroads. The “early adopter” phase of electric vehicle ownership has largely concluded, and the industry must now find a way to convince the “mass market” that electric cars are not just a green choice, but a financially viable one. Without a reversal in private buyer sentiment, the path to 2030 remains steep and uncertain.

Over the weekend, the world of fine watchmaking witnessed another moment of horological history. Phillips achieved a record-breaking result with the sale of a Patek Philippe reference 1518, a stainless-steel perpetual calendar chronograph, one of only four known examples ever produced in this configuration.

To put that into perspective, in the 940s when Patek Philippe released the 1518, perpetual calendar chronographs were almost mythical. The 1518 was not only the world’s first serially produced perpetual calendar chronograph wristwatch, but it remained the only one of its kind, along with the later reference 2499, for much of the 20th century.

When the hammer finally fell, the watch achieved a staggering $17.6 million. A sum that places it not just in the record books, but in a category of its own, a league where horology, art and automotive legend intersect.

The Trophy League: Ferrari 250 GTO, Da Vinci, and Domaine de la Romanée-Conti

As Phillips so aptly described, “More than an endgame in watchmaking, the 1518 in steel is in the same trophy league as a Ferrari 250 GTO, a Da Vinci painting or a bottle of Domaine de la Romanée-Conti 1945. Desirable, impossible to obtain and category defining.”

The Ferrari 250 GTO reference is particularly fitting. Produced between 1962 and 1964, only 36 examples of the 250 GTO were ever made, making it one of the rarest and most coveted cars in existence. Each one is an exquisite balance of performance engineering and sculptural beauty, a masterpiece in motion.

When one changes hands today, the price tag can exceed £50 million. But much like the Patek 1518, the real value lies beyond numbers, it’s about provenance, craftsmanship, and legacy. Both represent the pinnacle of human artistry and mechanical perfection, transcending their original purpose to become timeless cultural icons.

For collectors, owning a Ferrari 250 GTO or a Patek Philippe 1518 in steel is not merely about possession. It’s about guardianship, being part of an unbroken chain of enthusiasts and connoisseurs who understand the profound blend of history, rarity and emotion that these creations embody.

Why Collectors Are Drawn to Parallels Between Horology and Motoring

There’s an undeniable synergy between fine watches and collectible cars. Both worlds are built on precision engineering, heritage and an unyielding devotion to craftsmanship. They also share a similar collector psychology, the pursuit of rarity, condition, provenance and story.

Just as Ferrari hand-built engines to deliver visceral, emotional power, Patek Philippe’s watchmakers assembled perpetual calendar chronographs with microscopic precision. Each is a work of art that functions under pressure, a living expression of mechanical poetry.

Whether it’s a V12 engine or a column-wheel chronograph, both are symbols of an era when mastery was human, not digital.

Legacy Beyond the Auction Room

The $17.6 million result for the Patek Philippe 1518 in steel is more than a headline, it’s a reminder that true scarcity and craftsmanship never lose their allure. In a world increasingly driven by algorithmic trends and mass production, objects like the 1518 or the Ferrari 250 GTO remain timeless benchmarks of excellence.

They connect generations, ignite passion, and affirm that in both horology and motoring, the greatest creations are not just owned, they’re cherished and preserved.

Protecting Icons: How VINTTRO Cover Helps Safeguard Valuable Assets

For collectors, the passion for acquisition is matched only by the responsibility of protection. Whether your collection includes a Patek Philippe 1518, a Ferrari 250 GTO, or other rare and irreplaceable assets, ensuring they are properly covered is essential.

At VINTTRO Cover, we specialise in protecting high-value assets, from multi-million-pound classic cars and supercars to fine watches and collections. Our bespoke insurance solutions are built around the unique needs of collectors and connoisseurs, offering:

• Agreed value cover — so you always know the insured amount reflects the true worth of your asset.
• Flexible storage and transport  — for vehicles that travel between shows, track events, or private collections.
• Discreet and expert service — handled by specialists who understand the nuances of provenance, authenticity and restoration.

Because when it comes to pieces as rare as a Patek Philippe 1518 or a Ferrari 250 GTO, traditional insurance simply isn’t enough.

Your passion deserves the same level of precision and care as the objects themselves, and that’s exactly what VINTTRO Cover provides.

At VINTTRO, we’re always looking to form partnerships with brands that share a similar culture and passion for motoring excellence, ensuring that VINTTRO clients benefit from the best services available.

Our goal is simple: to ensure our clients and policyholders receive the very best services and products tailored to their motoring lifestyle, which is a core principle at VINTTRO.

With that in mind, we’re delighted to announce our new partnership with the great team at Bridge Classic Cars, enhancing the offerings of VINTTRO.

Discover the Benefits of the Bridge Classic Cars Partnership

To celebrate the start of this exciting relationship, we’re offering 20% off to all VINTTRO members and clients to join the Bridge Classic Cars Members’ Club. This means members enjoy access to a curated calendar of unique automotive experiences, bespoke events, celebrity appearances, live music and more. These exclusive gatherings are limited in numbers and are available by invite or ticket only.

And the best part? You don’t need to live near Bridge Classic Cars in Suffolk to enjoy the benefits. The Bridge Classic Cars Members’ Club is open to anyone with a passion for cars wrapped around your lifestyle.

Click here to find out more and remember to use the code VINT20 to receive your 20% discount.

The VINTTRO Experience

VINTTRO truly finds its pulse by engaging with it’s clients and members which is why our community is built on shared experiences that extend far beyond the garage.

The VINTTRO Events Calendar

• European Grand Tours Experience the ultimate driving odyssey. From the precision of Alpine hairpin turns to the sweeping vistas of the Mediterranean coast, our curated road trips are immersive journeys that celebrate the spirit of adventure and the endurance of classic engineering.
• Coffee Meets & Spirited Drive-Outs We keep the “Sunday Morning” tradition alive. These informal gatherings and local drives are the heartbeat of our community, providing a relaxed environment to keep the oil flowing and friendships sharp between our larger excursions.
• High-Level Business Networking VINTTRO is a hub for entrepreneurs and industry leaders. By trading the boardroom for the cockpit, members engage in a unique form of professional networking where organic, high-value connections are forged through a mutual appreciation for excellence.

“A VINTTRO event is where the thrill of the drive meets the power of the network.”

The Lotus Esprit at 50: A Half-Century of Wedge-Shaped Wonder

Having recently insured another stunning example of this iconic marque, we were reminded that this month marks a significant milestone: the Lotus Esprit turns 50 years old. Half a century since its debut, the Esprit remains one of Britain’s most daring and distinctive sports cars, a wedge-shaped masterpiece that defined style, performance, and individuality for generations.

First unveiled as a concept at the 1972 Turin Motor Show and launched in production form in 1976, the Esprit was a perfect marriage of British engineering and Italian flair. Styled by the legendary Giorgetto Giugiaro, its sharp, futuristic lines captured the global imagination. It wasn’t long before that dramatic profile caught the attention of Hollywood.

An Icon of the Silver Screen

The Lotus Esprit is a cinematic legend. Most famously, it starred alongside Roger Moore in the 1977 James Bond film, The Spy Who Loved Me. That sleek white S1, which famously transformed into a submarine, cemented its place in pop culture as perhaps the most versatile car in 007’s garage.

Its Hollywood career spans decades:

• The Spy Who Loved Me (1977): The “Wet Nellie” submarine S1.
• Pretty Woman (1990): Richard Gere’s character navigates the Hollywood Hills in a gleaming white Esprit SE Turbo.
• Basic Instinct (1992): Sharon Stone’s character drives a striking silver version, showcasing the car’s enduring allure.

Each appearance reinforced the Esprit’s image: a symbol of sophistication, power, and unapologetic style.

The Purest Driving Experience

Beyond the glamour, the Esprit was, and is, a true driver’s car. It perfectly embodied Lotus founder Colin Chapman’s philosophy: “Simplify, then add lightness.” Whether powered by the early 2.0-litre engines or the later, thunderous V8 twin-turbos, the Esprit was never just about straight-line speed. It was about connection and precision. Even today, owners celebrate its tactile, analogue feel, the very qualities that make it a cornerstone of any serious classic car collection.

Resurrecting a Legend: Soup Classic Motoring

For those who appreciate the mechanical soul of these cars, we highly recommend following Soup Classic Motoring on YouTube. The channel is currently documenting a meticulous full restoration of a Series 1 Lotus Esprit. From the raw mechanical artistry to the inevitable hurdles of a classic rebuild, it is a must-watch for anyone who appreciates the work required to keep these icons on the road.

A Legacy That Endures

Fifty years on, the Lotus Esprit still commands the road. Insuring one of these legends is about more than just a policy; it’s about stewardship of motoring history. We recognise that an Esprit isn’t just an asset on a spreadsheet, it’s a sensory experience, from the distinct smell of the cabin to the precise weight of the steering.

At VINTTRO Cover, we understand the unique requirements of the classic and supercar community. We know that finding a specialist who appreciates the nuances of a composite body or the rarity of original trim is vital. Whether you own a Giugiaro-penned original or a late-model V8, our bespoke policies provide the confidence to drive your passion, rather than just admire it from across the garage or storage facility. By offering tailored agreed-value cover and an understanding of the mileage needs of a true enthusiast, we ensure that your focus remains exactly where it should be: on the next apex.

Protect your passion with VINTTRO Cover.

Speak to our specialist team today on 0333 4042 007 for tailored insurance for your classic, supercar, or collector’s vehicle.

Did You Know? Fascinating Facts About the Lotus Esprit

Rounding off half a century of heritage, here are a few lesser-known facts that make the Esprit such a unique prospect for collectors and drivers alike:

• The “Paper Cut” Design: The Esprit was one of the earliest examples of Giorgetto Giugiaro’s “folded paper” design era. Its razor-sharp lines were so futuristic that some joked it was “sharp enough to give you a paper cut from 50 paces”.
• The Submarine Secret: During the filming of The Spy Who Loved Me, the submersible Esprit, nicknamed “Wet Nellie” wasn’t just a model; it was a fully functional, wet-submersible craft operated by a former Navy SEAL.
• A Rarity on the Road: Despite a production run spanning 28 years (1976–2004), only 10,675 Esprit’s were ever built. To put that in perspective, many modern supercars reach those production numbers in just a few years.
• A “Parts Bin” Masterpiece: In typical British boutique fashion, the early S1 used Fiat X1/9 taillights and Wolfrace alloy wheels. Later models even utilised door handles from the humble Morris Marina.
• The Ultimate V8 Power: The final V8 models were originally capable of producing 500 bhp. However, Lotus had to detune them to 350 bhp because they couldn’t source a gearbox at the time strong enough to handle the full torque of the engine.
• The “Essex” Start: The first 45 Turbo Esprits were released in a special “Essex” livery to celebrate Lotus’s Formula 1 sponsor. These cars are now among the most sought-after collector items in the Esprit world.

Rowan Atkinson, the world-renowned actor famous for his love of high-performance cars and racing, has been named in a House of Lords inquiry for contributing to a “plunge” in electric vehicle (EV) sales.

The Blackadder star, 69, famously described EVs as “a bit soulless” in a 2023 opinion piece. The House of Lords Environment and Climate Change Committee has since suggested that Atkinson’s comments were partly responsible for “damaging” public perception of the technology.

The “Honeymoon” is Over

The controversy stems from an article Rowan Atkinson penned for The Guardian in June 2023. Despite being an early adopter of electric tech, Atkinson wrote: “Increasingly, I feel a little duped… I’m feeling that our honeymoon with electric cars is coming to an end, and that’s no bad thing.” While Atkinson is best known for his comedic roles, he holds a degree in Electrical and Electronic Engineering and a Master’s in Control Systems. He used this technical background to argue that while EVs are “wonderful mechanisms,” the environmental cost of their lithium-ion batteries and the speed at which they are being pushed on the public, should be more closely scrutinized.

Debunked or Discerning?

The Green Alliance pressure group hit back during the House of Lords inquiry, stating: “One of the most damaging articles was a comment piece written by Rowan Atkinson in The Guardian, which has been roundly debunked.” EV advocates, including Simon Evans of Carbon Brief, accused the actor of misrepresenting the lifecycle benefits of batteries. Evans noted: “Mr. Atkinson’s biggest mistake is his failure to recognize that electric vehicles already offer significant global environmental benefits compared with combustion-engine cars.”

A Growing Scepticism

However, many consumers appear to align more with Rowan Atkinson than the committee. Rising purchase costs, a lack of charging infrastructure, and mixed messaging from the government have all played a role in cooling the market.

Baroness Parminter, chair of the inquiry, pointed out that transport remains the UK’s highest-emitting sector for CO2. She argued that the government’s failure to provide “clear and consistent messaging” created a vacuum that allowed “inaccurate reporting” to take hold.

The Counter-Argument

Not everyone in Parliament agrees with blaming a celebrity for the market’s shift. Greg Smith, a member of the Commons Transport Committee, delivered a scathing defense of consumer choice:

“It’s total hypocrisy for people who don’t even drive EVs themselves to have the bare-faced cheek to tell others they should drop an absolute ton of money on one. People should be free to choose what cars they buy and drive. The reliability issues with battery electric cars are real, and to try and sweep that under the carpet is just potty.”

As the 2035 ban on new petrol and diesel cars approaches, the debate between enthusiast “soul” and environmental strategy continues to accelerate.

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Amazon entered the UK insurance comparison market just 15 months ago with The Amazon Insurance Store, but following an internal evaluation, the decision has been taken to close this arm of the business.

As reported by Reuters, the e-commerce giant introduced Amazon Insurance to select customers on October 19th, 2022, followed by a nationwide rollout by the end of the same year. Initially, the panel featured home insurers Ageas UK, Co-op, and LV=, later adding Policy Expert and Urban Jungle. However, the experiment ended after less than a year and a half.

The Challenge of Disruption

While Amazon officially cited “prioritisation” and a “strategic review,” several industry factors likely influenced the decision.

• The “Big Four” Dominance: Established comparison sites currently hold a combined market share of over 95%, making it incredibly difficult for a newcomer, even one as large as Amazon, to gain a foothold.
• A Narrow Selection: With only five providers on the panel, Amazon struggled to compete with established platforms that offer over 100 choices, making it difficult to guarantee the “best” price for every consumer.
• A Lack of Differentiation: Industry experts noted that the store didn’t solve a specific pain point beyond simply being an Amazon-branded service, failing to offer a unique “Value Proposition”.

From Comparison to “Embedded” Insurance

Amazon’s exit doesn’t necessarily mean they are done with insurance. Many analysts predict a pivot toward “Embedded Insurance” the practice of selling coverage as a seamless part of a product purchase, such as offering home insurance alongside a Ring doorbell.

The Perspective

The exit of a tech giant is a stark reminder that in the insurance world, specialist expertise and choice still reign supreme. It is one thing to master the logistics of e-commerce; it is quite another to master the complex, high-trust world of personal risk.

At VINTTRO Cover, we see this as a validation that customers still value a “one-stop-shop” that understands their specific lifestyle rather than a generic algorithm.

What are your thoughts on this announcement? Does Amazon’s exit prove that traditional specialist brokers still have the upper hand, or is the next great disruptor just around the corner?

Jaguar Land Rover (JLR) has officially stepped back into the insurance ring. After a challenging period that saw many mainstream insurers retreat from the Range Rover market, the manufacturer has launched its own dedicated insurance scheme to restore confidence and protect its drivers.

The move comes after the brand’s previous insurance partner ceased operations last November, leaving many owners facing astronomical premiums or, in many cases, a total refusal of cover. This “insurance desert” didn’t just hit owners’ wallets; it began to impact new car sales and caused a noticeable dip in second-hand values.

A Data-Driven Solution

Partnering with Allianz Partners, the new scheme went live in October and has already been adopted by over 4,000 clients.

The launch follows JLR’s £10 million investment in vehicle security updates. These upgrades are proving effective: data from the Police National Computer recently cited a 40% drop in thefts for Range Rover and Range Rover Sport models built between 2018 and 2022.

The Fine Print: What You Need to Know

The new policy is designed for flexibility, though it does come with a few specific eligibility requirements:

• Age & Value: Drivers must be 30 years of age or older, and the vehicle’s value must be below £150,000.
• Flexible Terms: The policy features no deposits or interest charges. Better yet, clients can modify or cancel coverage without incurring the usual mid-term adjustment fees.
• Price Guarantee: Pricing is locked in for 12 months, providing much-needed stability in a volatile market.
• Expert Repairs: If monthly payments are below £200, the policy guarantees that any necessary repairs are handled exclusively by JLR-authorised body repair centers.

How VINTTRO Cover Can Help

While JLR’s new scheme is a great step forward, we understand that standard manufacturer policies don’t always fit every lifestyle, especially if you own a highly modified vehicle, a classic model, or a multi-car collection.

At VINTTRO Cover, we specialise in providing bespoke insurance solutions for JLR owners who need a more personal touch. Whether your vehicle exceeds the £150k value cap or you’re looking for an Agreed Value policy to protect your investment from market depreciation, we have you covered. Our team works with a panel of specialist underwriters to find competitive rates even for models that traditional insurers avoid. From the latest Range Rover to a cherished classic Defender, we bring your everyday and niche vehicles under one trusted roof with flexible, high-standard protection.

Beyond the Range Rover

The JLR scheme (and our specialist cover) is inclusive of the entire JLR family:

• Defender
• Discovery
• Jaguar models

To explore the specifics of the manufacturer’s new product, visit the Jaguar Land Rover website.

Ready for a quote that actually fits? Call us today on 0333 4042 007 to discuss your specialist JLR insurance needs.

Did you know that despite the high value of leisure vehicles, only 13% of motorhomes and 6% of campervans have trackers installed? According to research by Trackershop, the security gap doesn’t stop there: 54% of motorhomes and 45% of campervans lack even a basic alarm system.

Since the pandemic, the UK has seen a massive surge in motorhome sales, with campervan ownership rising by 20%. We are now in the height of the season, and unfortunately, theft is at an all-time high. For new owners, protecting your asset has never been more critical.

Why Motorhomes are High-Value Targets

It’s a simple case of supply and demand. Much like the high-end performance car market, motorhomes are prime targets for organized gangs. In 2020 alone, one tracking specialist recovered over £1 million worth of stolen vehicles.

Modern thieves don’t always need your keys. With computer technology underpinning modern ignitions, tech-savvy criminals can often bypass security systems in seconds. Without a tracking device, the chances of recovery are slim, especially since thieves quickly strip or alter identity markings once the vehicle is hidden.

How to Protect Your Pride and Joy

Whether you own a modern marvel or a classic Hymer, security should be a top priority. Here are our essential tips for keeping your vehicle safe:

1. The Golden Rule: Keys

It sounds simple, but never leave your keys in an unattended vehicle. Doing so could invalidate your insurance, leaving you completely uncovered for loss or damage due to theft.

2. Physical Security Locks

Thieves are opportunists; if a job looks like it will take too long, they’ll move on.

• For Classic Owners: Standard locks on vintage vans are often easily picked. We recommend upgrading to a van lock plate or a deadlock to bolster your defences while maintaining that classic look.

3. Electronic Immobilisers & Alarms

Most modern motorhomes feature remote immobilisers, but classic owners aren’t always so lucky.

• Immobilisers: These prevent the engine from starting without the correct electronic “handshake.”
• Thatcham Category 1 Alarms: We highly recommend a Thatcham-approved system. A loud, audible deterrent is often the best way to scare off a thief before they get inside.

4. GPS Tracking Systems

Once reserved for supercars, GPS technology is now highly affordable. A tracker allows you to monitor your vehicle’s location via your phone in real-time.

• Recovery Rates: Some systems offer up to a 95% recovery rate.
• Storage Tip: If you keep your vehicle in a storage facility, a tracker provides a “virtual eye.” If you’re storing it for long periods, consider a solar battery charger to ensure the tracker doesn’t drain your battery.

5. The “Safe Box” Mentality

If a thief sees a tablet, sat-nav, or even a charging cable on the dashboard, they assume there is something worth stealing inside. Keep your living area tidy, hide your valuables in a built-in safe, or take them with you when you leave the vehicle.

Insurance: What You Need to Know

Do I need insurance while in storage?

Yes. Even if your vehicle is SORNed (off the road), it remains a target for fire, flood and theft. At VINTTRO, we always advise clients to maintain insurance during storage to cover incidents that fall outside a facility’s standard trade policy.

Do I need specialist insurance to drive?

Standard car insurance is not sufficient. Motorhome insurance is specialised because it covers the unique way you use the vehicle, for cooking, sleeping, and carrying personal contents.

A Note on Licences: * Passed before 1997: You likely have a C1 entitlement, allowing you to drive vehicles up to 7,500kg.

• Passed after 1997: You are generally limited to 3,500kg (plus a 750kg trailer). Always check your licence before buying or renting!

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Get Covered with Vint-tro

At VINTTRO Cover, we want you to focus on the adventure, not the “what ifs.” Whether you’re a classic Hymer enthusiast or a new campervan convert, our team is here to help you find the right protection for your vehicle and its contents.

Ready for peace of mind? Speak to the team at VINTTRO Cover today on 0333 4042 007.