NEW car sales figures remain down on last year but there has been a significant increase again in electric vehicle sales and with it comes opportunities in the leasing market.
As the market emerges from lockdown, Lex Autolease said there is a “clear opportunity” to accelerate the progress that’s already been made in terms of the environment and a shift towards more flexible working patterns and the need for less business mileage could make EVs more practical for more people.
Ashley Barnett, head of consultancy at Lex Autolease, said: “Leasing is a good option for individual motorists and businesses looking to spread the running cost of a new car, and those who move into an EV will enjoy additional cost savings throughout its lifetime, including cheaper ‘fuel’ costs and VED, as well as low Benefit-in-Kind for company car drivers.
“The coronavirus outbreak has proven extremely challenging for the new vehicle market, but even during the height of lockdown, monthly EV registrations were still up year-on-year.
“The Road to Zero plan launched in 2018 means the direction of travel in this country is clear, and with consultation ongoing about bringing forward the ban on new petrol and diesel vehicles from 2040 to 2035, our advice is to not get left behind.
“Those who make the move to zero-emission driving now – for themselves or on their fleets – can take advantage of the incentives available to early adopters.”
Latest figures from the SMMT show that there were 135,377 units registered during June, down almost 35% on the same month last year.
Registrations of petrol cars declined 39.9%, diesel 59.8%, while battery electric vehicles rose 261.8%. Demand from private consumers decreased by 9.2% and fleet 45.2%.
