First Electric Car Models Eligible for £3,750 Purchase Grants Announced

Strategic Insights -

The UK's Department for Transport (DfT) has announced the first electric car models eligible for £3,750 purchase grants, providing significant discounts to drivers. The Ford Puma Gen-E and e-Tourneo Courier are the initial models to qualify for the maximum £3,750 grant, under the Government's £650 million electric car grant scheme. This move aims to address the significant upfront costs of electric vehicles, which have long been a major deterrent for potential buyers.

Key Takeaways:

  • The Ford Puma Gen-E and e-Tourneo Courier are the first electric car models to qualify for the maximum £3,750 purchase grant under the UK's electric car grant scheme.
  • The other 26 models currently included in the initiative are eligible for £1,500 grants.
  • Cars must be priced at no more than £37,000 to be eligible for the grant.
  • Discounts are automatically applied at the point of sale, aiming to bridge the financial gap between electric and petrol/diesel cars.
  • More models are expected to be approved for the grant in the coming weeks.

Statistics:

  • The £650 million electric car grant scheme aims to provide significant discounts to drive demand and make electric cars more affordable.
  • The maximum grant available is £3,750, reducing the upfront costs of electric vehicles.
  • There are currently 26 other models included in the scheme, with their grants capped at £1,500.
  • Drivers cite upfront costs as a "key barrier" to buying an electric vehicle.
  • The Electric car grant prompted the highest uptick in consumer demand for EVs on Autotrader in three years.

Sources:

  • Department for Transport (DfT)
  • Edmund King, AA President
  • Ian Plummer, Commercial Director, Autotrader