More than 140,000 new EVs have been bought with the UK Government’s Electric Car Grant during the scheme’s first year, it has been announced.
The grant gives a discount of either £3,750 or £1,500 off the cost of qualifying EVs, with 58 models currently eligible.
The Government credits the grant with contributing to the best month ever for new EV registrations in March this year, and a 35% year-on-year increase in registrations last month.
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The Government also argues that the scheme has supported UK manufacturing, such as with the latest Nissan Leaf being made at the manufacturer’s Sunderland plant, due to production and supply chain emissions being a factor in grant eligibility.
EV demand ‘only going in one direction’
Keir Mather, aviation, maritime and decarbonisation minister at the Department for Transport, said: “In just one year, our Electric Car Grant has helped over 140,000 drivers save up to £3,750 on a new EV, and with nearly one in three cars sold now electric and sales up 35%, demand is stronger than ever and only going in one direction.
“We’ve made it easier and cheaper than ever before to go electric, and with savings of up to £1,400 on running costs there’s never been a better time to make the switch, especially against the backdrop of global fuel price fluctuations.”
John Veichmanis, CEO at Carwow Group, said his company had observed a clear increase in EV interest from buyers.
He said: “A year on, the direction of travel is clearly positive – our data shows EVs now account for 34% of car-buying enquiries on Carwow, up from 24% before the grant landed.
“Add in fuel prices that remain volatile and the growing cost advantage of charging at home, and it’s easy to see why more drivers are making the switch.”
Simon Williams, head of policy at the RAC, said: “The reintroduction of the Electric Car Grant is something we’d been calling for, so it’s great to see it making such a positive difference to EV sales in its first year.
“The high upfront cost of a new EV has long been the biggest obstacle in the way of wider adoption. With 58 models now qualifying for the discount drivers have more choice than ever at varying price points.
“And, of course, every new vehicle that comes on to the road will at some point feed through to the second-hand market enabling those drivers who don’t buy new to go electric too.”