Based on current forecasts, pure electric car registrations are expected to overtake diesel by the end of 2022.
Ian Robertson, editor and publisher of Diesel Car & Eco Car magazine, said switching to an electric car was now a very attractive proposition for both businesses and individuals.
“For business-users, electric cars make running a company car a viable practice once more, thanks to tax breaks by the Government.
“Benefit-in-kind taxation of just 1% in 2021-22, 2% in 2022-23 and 3% in 2023-24 makes it incredibly cheap to run a company car, and the choice of vehicles has never been better.
“Every month a handful of brand-new models are released to join the impressive pool of vehicles that are already on sale, with the price of electric mobility starting from as low as £19,200.
“Free vehicle excise duty and no congestion charge in London are just two of the perks of ditching the internal combustion engine now,” he added.
The Government newly-published Net Zero Strategy, Build Back Greener, outlines a long-term plan for a fully-decarbonised economy in 2050.
It includes some key sections on the automotive sector, including the introduction of a Zero Emission Vehicle mandate.
The Government has banned the sale of new conventionally-powered petrol and diesel cars by 2030 and hybrids five years later.
By 2040 it wants to end of sale of all new, non-zero emission vehicles which takes in motorbikes, buses and lorries.
The Net Zero Strategy includes:
- Investing another £620m in grants for zero-emission electric vehicles and street charging points on top of the £1.9bn already pledged.
- Targeting car-makers on the percentage of new zero-emission vehicles sold each year from 2024.
- Creating a reliable EV charging network in the UK.
- 25% of the government’s car fleet ultra-low emission by December 2022 and totally emission-free by 2027.
- Pledging an extra £350m to help the automotive supply chain move to electric.
Credo Eco Finance is helping businesses and individuals switch to electric vehicles – contact our experts on 01603 381955 or email [email protected]