Car buyers are feeling less confident about purchasing electric vehicles (EVs) following the Autumn Budget, as reported by JudgeService.
Almost half of the respondents (46%) indicated that they are not more confident about buying an EV, while nearly a quarter (23%) reported feeling more confident.
Neil Addley, Managing Director of JudgeService, stated, “The Autumn Budget was a prime opportunity for the government to boost EV adoption in line with its stringent Zero Emission Vehicle (ZEV) mandate targets by providing incentives for retail buyers. However, despite favorable personal tax rates for EV company car drivers, our poll shows that the budget’s promises of lower Vehicle Excise Duty (VED) rates and increased investment in the charging network are insufficient to encourage retail buyers to switch to EVs.”
Currently, the only incentive available to retail EV buyers is a reduced VED rate for zero-emission vehicles.
Regarding hybrid vehicles, 42% of respondents now feel less confident about purchasing one, compared to 23% who expressed increased confidence.
The government's commitment to invest over £200 million to enhance the rollout of EV charging points has left 46% of respondents doubting that the national infrastructure will be adequate by 2030, while only 24% believe it will be sufficient.
Chancellor Rachel Reeves’ pledge of an additional £500 million to repair potholes also received skepticism, with 45% of respondents doubting that road repairs will be completed faster than before, while just 26% expressed confidence in quicker repairs.
Overall, 42% of respondents feel the budget has not improved their financial situation, while 18% believe it has.
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