BEV REGISTRATIONS BOOSTED BY ZERO COMPANY CAR TAX
Posted on 16th August 2020 at 12:52
The decision made by the UK Government to introduce zero benefit-in-kind-tax for battery electric vehicles is having a positive effect on BEV registrations. With latest registration figures showing that 8,162 BEVs were registered in July out of a total 174,887 vehicles.
Demand for BEVs appears to be driven by three key factors: changes to the benefit-in-kind company car tax meaning zero emission vehicles pay no tax in 2020-21, changes to the plug-in grant in the March 2020 Budget, meaning that hybrid cars with fewer than 70 zero emission miles are no longer eligible for funding and an increased range of vehicle models available, meaning a greater choice for both consumers and businesses.
BEV sales in a few years, are expected to account for a third of monthly new vehicle registrations. Based on figures from the last few months. However, this depends on whether the Government’s EV uptake measures can boost uptake and defy the current economic conditions.
A recent survey of more than 500 companies in the UK found that 30% of businesses were already using EVs, while 46% have active plans to make the transition and a further 16% have begun to discuss it.
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