Support for used EV market should feature in Spring Budget – VRA

The Vehicle Remarketing Association believes there is an imbalance in government incentives between new and used electric vehicles. It says more needs to be done to ensure a healthy market for used models. The association is calling for this support to feature in the Spring Budget. VRA chair Philip Nothard said: “The government should be applauded for doing much in recent years to encourage uptake of new EVs, especially through low personal company car taxation. This has been notably successful and electric power now makes up a significant proportion of new car sales. However, the used car sector has so far been left to look after itself when it comes to EVs and, as shown with dramatic price falls in recent weeks and months, demand is extremely variable even for the relatively low numbers of electric cars now making their way onto the used market.”