Electric automobile: Drivers can save 60 % on new EVs in spite of Plug-in Car Grant minimize

Earlier this week, the Department for Transport introduced that the Plug-in Car Grant can be finishing in an instant. The Government scheme had supported drivers transferring to electrical vehicles with a £1,500 incentive against purchasing a brand new electrical automobile beneath £32,000.

The scheme helped build up the gross sales of absolutely electrical vehicles from not up to 1,000 in 2011 to nearly 100,000 within the first 5 months of 2022 on my own.

It mentioned the grant scheme were a hit in making a “mature market” for EVs, with one in six new vehicles on UK roads being electrical.

The Government is now “refocusing” its investment against public charging and supporting the acquisition of alternative highway cars the place the transfer to electrical calls for additional building.

Thom Groot, CEO of The Electric Car Scheme, lamented the verdict to chop the Plug-in Car Grant, however mentioned possible choices have been to be had to drivers.

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“The savings on electric cars through the initiative are not affected by the announcement, and make electric cars far more accessible than before.

“For example, a Volkswagen Up! could cost as little as £199 per month, or an employee could drive a Tesla Model 3 from as little as £399 per month.”

The scheme is similar to the Bike to Work scheme which helps employers save money on a new bike as a free employee benefit, designed to reduce the number of car trips and boost cycling.

The Government has already committed £1.6billion to building the UK’s public chargepoint network.

Transport Minister Trudy Harrison praised the scheme kickstarting the electric car market in the UK and making it easier for drivers to access EVs.

Since 2020, the Government has invested £2.5billion into the electric transition, through grants and infrastructure.

This is in addition to the “most ambitious” phase-out dates for brand spanking new diesel and petrol gross sales “of any major country”.

Steve Tigar, CEO of loveelectric.vehicles, used to be additionally involved in regards to the minimize to the grant scheme, however identified that drivers may just nonetheless save on EVs.

Through a wage sacrifice scheme, motorists can power maximum new electrical vehicles for as much as part the per month price of the automobile.

Mr Tigar added: “The £1,500 plug-in car grant might have gone but UK businesses can still help motorists get an EV for less and save on tax.

“What a lot of motorists still don’t know is that the companies they work for can help them lease an electric car for 50 percent less than private finance deals.

“The Government still allows businesses of all sizes to put a pre-tax portion of your salary towards paying the monthly cost of leasing an electric car.  

“This means you can avoid soaring pump prices and pay less income tax and national insurance. 

“Plus, you needn’t worry about depreciation of your EV because you are leasing it, not buying it.

“This is the cheapest way to finance a new electric car and we need every incentive to keep the move to a low carbon future going.”

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