JudgeService reveals that the Autumn Budget dampened consumer confidence in buying electric vehicles (EVs), with nearly half (46%) of car buyers expressing less confidence in making the switch.
Although the budget included a lower Vehicle Excise Duty (VED) for zero-emission vehicles, only 23% of respondents felt more confident about purchasing an EV.
Interest in hybrid vehicles showed similar trends, with 42% of respondents now feeling less inclined to buy one, while 23% reported increased confidence.
The Budget commitment of over £200 million to accelerate EV charge point rollout left many buyers sceptical about infrastructure readiness, with 46% doubting that a sufficient national charging network will be in place by 2030.
Only 24% were optimistic about the progress.
The pledge of an additional £500 million to repair potholes also failed to boost confidence, with 45% of respondents doubting that road repairs will speed up, and only 26% expecting improvements.
Overall, 42% of those polled felt the Budget has not improved their financial situation, while only 18% believed it has.
JudgeService managing director Neil Addley commenting on the missed opportunity, said: “The Autumn Budget presented a golden opportunity to accelerate EV uptake… but our poll shows that lower VED rates and investments in charging infrastructure aren’t enough to drive retail buyers to make the EV switch.”
The UK’s leading event for motor retailers – Wednesday, November 13.
Automotive Management Live 2024 welcomes motor retail managers from across the UK to discover business improvements, to understand best practice and to network with fellow dealers and suppliers.
Topics this year will include agency business models, the brands now entering the UK new car market, used car stock management and more. It’s free to attend, but you’ll need to register.
Venue: NEC, Birmingham
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AM deputy editor Aimée Turner has been a specialist B2B editor and journalist covering the international transportation sector for more than 20 years.
She has specialised in the significant safety, regulatory, and environmental issues that impact advanced technology businesses in the pursuit of more efficient, safer and sustainable transportation modes.
