The article discusses the implications of new vehicle excise duty (VED) changes affecting electric vehicles (EVs) in the UK. Research from the Energy and Climate Intelligence Unit indicates that while EVs are cheaper to own than petrol cars, the removal of their tax exemption could dampen consumer confidence. Starting Tuesday, all EV owners will incur tax charges, potentially countering the financial benefits of EV ownership. Additionally, new EVs priced over 40,000 will face extra annual fees, raising concerns about the long-term appeal of electric vehicles amidst a crucial transition to sustainable transport.
Car tax rule changes could undermine consumer confidence in electric vehicles (EVs) despite them remaining cheaper to own than petrol models, according to new research.
The analysis includes purchase and running costs, stating that owners of the top 10 best-selling EVs will benefit from average annual savings.
The Treasury will remove EVs' exemption from vehicle excise duty (VED), meaning all EV owners will be charged at least the standard rate.
New EVs worth more than 40,000 will incur the expensive car supplement, which will be 425 annually from years two to six after a car is registered.
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