The Government has committed to keeping benefit-in-kind (BIK) tax rates low for company cars but only until March 2025.
The Government is warning that it is “unlikely” it will be able to give advance notice of any future cuts to the plug-in car and van grant.
BMW makes biggest reduction, lopping almost £7,500 off sportier versions of its i3 model.
Ashley Barnett, head of consultancy at the UK's largest vehicle leasing company Lex Autolease, reacts to recent changes to the plug-in car and van grant.
Hyundai has reduced the prices for certain Kona Electric and Ioniq Electric, to ensure they are eligible for the plug-in car grant.
Nissan is the latest manufacturer to reduce the pricing of its EVs after the Government announced it was cutting the plug-in grant with immediate effect.
BMW has slashed the pricing of its i3 electric car to ensure customers can still take advantage of the Government’s plug-in grant.
Peugeot has revised pricing for all e-2008 models and enhanced deposit contributions for the e-208 range in response to the Government cutting the plug-in grant.
New figures show businesses are twice as likely as consumers to make the switch from petrol or diesel, says the Society of Motor Manufacturers and Traders (SMMT).
The Government has cut the electric car grant from £3,000 to £2,500 and excluded models that cost more than £35,000.
The British Vehicle Rental and Leasing Association (BVRLA) has written to HM Treasury ahead of the Spring Budget to outline fiscal measures required to support the fleet sector's recovery.
Transport for Greater Manchester is asking fleets to give their views on the proposed £150m in funding to help businesses switch to plug-in vehicles.
New company car tax rates will cost the Government £100m in lost revenue over the next two years, while drivers will face higher costs from new CO2 rating.
By Edwin Kemp, associate director Mobility 2030 at KPMG UK
The plug-in grant for certain electric vehicles (EVs) has been cut with immediate effect, after funding was secured for another three years.
The Chancellor has announced new company car tax rates in a Budget dominated by measures to soften the impact of Coronavirus.
Trade bodies call for support measures to help achieve the 2035 zero emissions goal.
BVRLA asks the fleet sector to act now to safeguard the future of the plug-in car and van grants.
The Treasury says that “consumers incentives will continue to play a role beyond 2020”.
Continuing concerns over the environmental credentials of diesel have led to a marked migration to petrol among leased company car fleets.
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