The UK is seeing a massive increase in the sales of Electric Vehicles, but is it a viable option for company cars & vans?
Sales of Electric Vehicles have increased a massive 366% year-on-year according to The Department Of Transport. The technology behind Electric Vehicles has really advanced over the last few years too hence them being taken more seriously.
So What’s The Benefits From A Company Car Point Of View?
We know that Electric Vehicles are more expensive to buy initially, but benefit from much lower running costs and not to mention the tax benefits, which is why many businesses are looking at them as a viable option.
The average costs are thought to be around two to four pence per mile for the electricity to fuel an Electric Vehicle, compared to between 10 – 14p per mile for conventional petrol or diesel vehicles.
There are also Plug-In Car & Van Grants available with up to 35% off the cost of a car and up to a maximum of £5,000 and 20% off the cost of a van, up to a maximum of £8,000.
The existing Plug-In Car Grant & Van Grant Scheme will finish at the end of the year but plans for a new scheme are underway with a new tiered system set to replace the 75g/km CO2 cutoff.
The tax benefits for utilising Electric Vehicles as company cars and vans include exemptions from:
- Fuel Duty
- Vehicle Excise Duty
- Company Car Tax
With the way that vehicles are now being taxed, it is now a totally different ball game when looking at the best options for company cars & vans, so the fact that Electric Vehicles are exempt is really appealing.
Many businesses are becoming more environmentally conscious and are taking social responsibility for the impact their business has on the environment, which is another reason that Electric Vehicles are becoming a serious consideration for company cars and vans. It also shows that businesses are embracing technology. These factors are great for the company image and could even have a positive effect on sales!
More information about the benefits of using Electric Vehicles as company cars and vans can be found here.
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