All industry eyes on chancellor Rachel Reeves’ first Budget were peeled for an announcement about the desired introduction of incentives to help boost flagging private electric car sales, not that many held out much hope of their introduction.
When so many taxes are going up, offering handouts for expensive goods was never going to be a likely outcome – even if the same government has also legislated an ambitious EV sales target that doesn’t take into account consumer demand.
Sensing no help was forthcoming, car makers have instead spent around £2 billion themselves so far this year in trying to tempt buyers into electric cars.
The Budget’s sole mention of electric cars came from the favourable company car tax rates that will now continue.
