As everyone is out trying to save the world by going green (or blue in some cases), it’s easy to know that the purchase and use of electric cars has always been something under everyone’s nose that can make the biggest impact.
Since 2010, in a scheme to encourage motor traders to push the industry forward, the government have been helping out with grants of around £5,000 towards the cost of purchasing an electric vehicle, and the general public seem to be warming to them. The only downside, at the minute, is that motor trade insurance companies haven’t set in concrete how they will deal with electric vehicles – although some underwriters have agreed that electric vehicles can be sold by their traders. For more information on this, we recommend contacting a broker such as One Sure Insurance who specialise in traders policies. In March 2015, purchase figures for electric cars quadrupled figures of the same time last year.
In total, since 2010, at least 25,000 grants have been distributed out, with the limit being confirmed at 50,000. This was planned to keep wind in the industry’s sales until 2017, but thanks to a boom in sales recently, most notably the Mitsubishi Outlander PHEV, which has sold 10,000 in just over 10 months, the limit is becoming more and more ominous and 2017 is beginning to look ever more optimistic. If you look at the bigger picture, it’s a good thing, and a bad thing.
Good because of the fact that the industry has received the uplift in terms of electric cars that it definitely needed, so you can say the grant has succeeded, but bad due to the lack of any replacements in the pipeline. This increases the likelihood of the industry dropping again once these grants run out, brining everyone back to square one. On the other hand, it could be a case of getting the ball rolling, and now it is doing just that, it could maintain itself without any grant money.
With more eco-friendly and electric vehicles being added to the roster, the appeal for them is ever expanding, with more areas across the automotive industry being converted to electric, and having the distinctive “I” or “e” placed somewhere around the name badge. This could potentially help this snowball effect grow ever more until the industry takes off on a level that everyone knows about.
For now though, the grants are still very much in place and being given out, so until they run out, we can remain hopeful that the industry will continue to accept the shift to electric cars as well as it seems to have done already.