EVs take record share of used car market
A record proportion of used car buyers are choosing pure electric models, figures show.
Some 80,614 pure battery electric cars changed hands between July and September, the Society of Motor Manufacturers and Traders (SMMT) said.
That represented a market share of 4.0%, compared with 2.8% a year ago.
A total of 2,021,265 used car transactions were recorded in the three months to the end of September, up 2.8% from a year earlier.
SMMT chief executive Mike Hawes warned Government plans to make vehicles obtained through Employee Car Ownership Schemes liable for company car tax could hamper the switch to electric motoring.
The policy is expected to lead to the closure of the schemes.
Mr Hawes said: “With used EV uptake at a record high, a robust used car market is essential for fleet renewal, and helps make electrified mobility more accessible for more motorists.
“However, overall consumer choice and affordability are at risk if the Government scraps Employee Car Ownership Schemes, a move that would stifle supply of the very latest vehicles into the used market and cut Exchequer revenue.
“Britain needs fiscal policy that promotes rather than prevents economic growth, social mobility and decarbonisation.”
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Sounds like the need for incentives has run its course.
This is the way.
I think more incentives are needed in the used car market myself for electric vehicles. Most people won’t benefit from the discounts on new cars, it doesn’t matter if 3,000 is knocked of a 30,000 car if you can’t afford 10,000. Which means they’ll be driving polluting ICEs for years to come.