Electric car incentives are ‘a little bit behind’ with ‘more’ needed for used cars

Electric car incentives are ‘a little bit behind’ with ‘more’ needed for used cars

11/22/2021

Question Time audience member reveals electric car 'anxiety'

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Lauren Pamma, Programme Director at the Green Finance Institute, who’s Coalition for the Decarbonisation of Road Transport earlier this month published their latest report ‘Road to Zero: Unlocking public and private capital to decarbonise road transport’ said “different incentives” were needed for used owners. She said more needed to be done to convert potential owners to make the switch once more electric cars started to “trickle into the used market”.

Speaking to Express.co.uk, she said: “Where we are a little bit behind, and perhaps this is where some more incentives are needed, are used vehicles.

“There isn’t really a supply of used vehicles yet because they haven’t existed in huge volumes as new.

“It’s right our incentives have been focused on new cars to try to build a market.

“But as these cars start to trickle into the used car market, we might need to see some different incentives there to give used buyers confidence to switch.

“That might be things like guaranteeing the battery will definitely last for another 10 years.

“It might be support for the purchase price or means-tested loans.”

Currently, prospective new car owners can benefit from a plug-in grant to reduce the upfront costs.

Brand new owners can also secure cheaper lease deals through benefit in kind rates

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However, used owners will only get access to cheaper tax rates and Clean Air Zone exemptions.

Data from the SMMT found used car sales were down by around 2.1 percent compared to last year.

However, sales of hybrid, plug-in hybrid and fully electric models were up by around 27 percent, showing second-hand models were now starting to filter into the market.

Mike Hawes, SMMT Chief Executive previously said it was “encouraging” to see more used car buyers buying second-hand vehicles.

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