Motor Industry calls for VAT cut on electric cars and charging points to boost EV market
Briefly

from Business Matters4 months ago
The Society of Motor Manufacturers and Traders has urged the UK government to cut VAT on electric vehicles and charging infrastructure to stimulate demand.
Business Mattershttps://bmmagazine.co.uk/news/motor-industry-calls-for-vat-cut-on-electric-cars-and-charging-points-to-boost-ev-market/
Despite a record number of battery electric vehicle registrations, private demand for EVs has decreased by 6.3% year-to-date, highlighting a troubling market slowdown.
Business Mattershttps://bmmagazine.co.uk/news/motor-industry-calls-for-vat-cut-on-electric-cars-and-charging-points-to-boost-ev-market/
The call for a 50% VAT reduction on EV purchases could cost the Treasury £7.7 billion by 2026, showing the magnitude of support needed.
Business Mattershttps://bmmagazine.co.uk/news/motor-industry-calls-for-vat-cut-on-electric-cars-and-charging-points-to-boost-ev-market/
The motor industry is also advocating for delayed road tax for EVs and extending subsidies for commercial electric vans to boost adoption.
Business Mattershttps://bmmagazine.co.uk/news/motor-industry-calls-for-vat-cut-on-electric-cars-and-charging-points-to-boost-ev-market/
Read at Business Matters
#electric-vehicles #uk-government #smmt #vat-reduction #ev-market-challenges
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