A motoring expert has called on the Government to add more incentives to encourage more drivers to make the switch to electric cars without penalising manufacturers.
While the Society of Motor Manufacturers and Traders (SMMT) recently reported that EV sales grew significantly during September 2024, few were bought by private motorists.
John Cassidy, Managing Director of Sales at Close Brothers Motor Finance, highlighted that a slump in growth for private buyers has likely been caused by high EV prices and an insufficient infrastructure.
He explained: “We have started to see an increase in discounts and price reductions to try and boost activity as consumer demand for EVs stalls, and more buyers turn to the used market.”
Sharing the real reason why private buyers aren’t snapping up EVs, he added: “Significant barriers, such as a lack of charging infrastructure, continue to hamper progress towards government targets, and we have seen manufacturers backtrack on their electrification plans and halt production as a result.”
According to figures published by the SMMT, whilst sales of electric cars grew by an impressive 24.4 percent in the 12 month period up to September 2024, private sales of EVs only rose by 3.6 percent.
In comparison, the organisation highlighted that sales of new diesel models to private buyers rose by 17.1 percent, despite many manufacturers turning away from the fuel.
Whilst overall sales of new cars grew during September 2024, the lack of demand for electric cars is causing more companies to discount models in a bid to avoid getting fined for failing to meet the Government’s new 22 percent quota for EV sales.
John stated that he hopes the Government will introduce more measures to encourage the uptake of electric models in the upcoming budget.
He continued: “Following Labour’s decision to revert back to the original 2035 new petrol and diesel ban, many will now turn their attention to the autumn budget, in the hope that measures are introduced to drive the shift to EVs.”
Whilst the Government has long since removed financial incentives to buy new electric models, some EV campaign groups have called for a cut in VAT for public charging.
