Budget sees grants for new electric cars reduced by £500
Grants for new electric cars have been cut in chancellor Rishi Sunak’s budget.
Steve Gooding, director of motoring research charity the RAC Foundation, warned that this risks failing to “tip the balance” for undecided buyers if it falls quicker than the retail price of electric cars. He said: “This is still a fragile market and ultimately the advertised benefits of cheaper fuel and other running costs mean nothing to drivers if the up-front cost of the vehicle is too high in the first place, compared to the petrol or diesel equivalent.”
Figures published by the Society of Motor Manufacturers and Traders shows 38,000 pure electric new cars were bought in 2019, more than double the total in the previous year. These cars now hold a 1.6% share of the new car market.
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