UK Government Pulls The Plug On Electric Car Grant | Carscoops carscoops
was launched in 2011 and has reduced the price of over 500,000 vehicles over the past decade.
That news effectively adds £1,500 to the price of several popular EVs. Buyers could previously claim a £1,500 reduction in the purchase of any electric car priced below £32,000 , the threshold having been reduced from £35,000 in December 2021 when the grant was cut from £2,500 .
Most of those criticisms have been answered, and as a result, electric car take-up has shot up in the UK to the point wheretopped the sales charts for vehicles of any fuel type for several months over the last year, despite being too expensive to qualify for the grant. That achievement is a clear sign that many buyers no longer need a financial incentive to make the switch to electric power, though those on lower incomes will now find it harder to make the move.
Although axing the grant means car buyers now face paying more for their new cars due to the high price points of EVs compared with combustion-engined cars, the government points out that drivers ofwill still benefit from reduced running costs versus their petrol-driving neighbors thanks to lower energy costs, cheap company car tax rates and the exemption from road tax .
And the UK government isn’t completely turning its back on funding for electric vehicles. It says it has earmarked £300 million to provide financial assistance for electric taxis, motorcycles, delivery vehicles, and wheelchair-accessible vehicles.
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