Today it has been announced that the plug-in grant scheme for electric vehicles is to be cut by £500 due to increased demand for the scheme. Additionally, the upper limit for cars eligible for the grant has been reduced from £50,000 to £35,000. Car Insurance Expert at Confused.com Alex Kindred says:
“Our research found that more than half (57%) of drivers think that the government needs to do more to help people make the switch. Although the reduced grant means that some popular, expensive electric cars are now ruled out from funding, it will be interesting to see if uptake is boosted as more affordable models should become accessible to more drivers.
“Our research also found that almost two thirds (60%) of drivers are still put off EVs as they are too expensive. Whilst it’s always encouraging to hear that EV demand is growing, the initial outlay cost of the vehicle is clearly holding people back.
“As we head towards the 2030 ban, there’s confusion around running costs and the grants on offer. It’s important to know there are plenty of incentives that can save you money including no congestion charge, free entry into low emission zones and home charging grants. But the biggest saving for EVs is road tax – there isn’t any! Our guide offers some helpful tips on how you can make EVs more affordable so you can feel more confident about going green.”
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