Together as business leaders, we can make a difference.

'Heroes of Net Zero' Follow Us

Have EVs stalled?

jenny-ueberberg_1336_744

The share of electric cars sold in the UK last year fell slightly even though the numbers circulating actually rose by 18% to a record 315,000. It is a small setback on the path to electrification as the market shifts from early adopters to more cautious ‘ordinary’ consumers.

The drop in share from 16.6% to 16.5% may seem trivial but it is the first time market share for EVs has fallen in the UK since 2018.

Private buyers continue to be more cautious than businesses and the Society of Motor Manufacturers and Traders (SMMT) points out that while EVs have lower running costs than petrol cars, the upfront price is around 30-40 per cent higher.

At present, anyone buying an EV in the UK through a business, a company car or salary sacrifice scheme, receives tax incentives. But grants for individuals were phased out by the government two years ago.

In parallel, the Government’s commitment to banning the sale of new diesel and petrol cars has been put back from 2030 to 2035.

The SMMT suggests that UK consumer demand is being held back by doubts over affordability and charging and is calling for the return of grants or incentives for private consumers in line with what is happening in France, Germany and most other European countries.

The SMMT says that a VAT cut from 20 per cent to 10 per cent on new EVs over three years would take roughly £4,000 off the price of a new model if the savings were passed on.

Photo by Jenny Ueberberg on Unsplash

Explore

If enough businesses act, together we can slow down or help to prevent Global Warming.

A Summary of Evidence

We estimate that widespread adoption of more climate-friendly policies in industry globally, could have the equivalent impact of taking 630.5 million cars off the roads.

Real World Examples

Just a few examples where we have the know-how to do things differently and help both the environment and the bottom line.

Create your Policy

The case for a great return on investment, from water and energy savings is very clear. "Adopt an Investment Policy to Prevent Global Warming".