Indeed - hopefully it stays like that.The BIK is locked at 2% from start of FY 22/23 until end of FY 24/25
When are you going fully electric?
- Thread starter Ricochet J
- Start date
It will make a difference for the people looking at cars from £35k to £50k who now don't qualify for the £3k OLEV grant. That's around an £83 increase on monthly payments over 3 years.
Yup, a better way of doing this would have been to restrict the grant payment to private buyers.
Companies have far better and bigger incentives to drive adoption. 100% writing down allowance and 1-2% BIK for company car drivers. That’s worth a lot on premium cars in tax savings.
Car companies tend to price their cars similarly across Europe. There aren’t really any special prices because of our EV incentives.
Companies have far better and bigger incentives to drive adoption. 100% writing down allowance and 1-2% BIK for company car drivers. That’s worth a lot on premium cars in tax savings.
Car companies tend to price their cars similarly across Europe. There aren’t really any special prices because of our EV incentives.
MG is called Roewe in China and this Model X looks very similar so assume these have been out for a while now
https://youtu.be/qDdQIQ_ViRc
https://youtu.be/qDdQIQ_ViRc
Exactly. ICE is still a very convenient, relatively inexpensive and familiar concept for most, I can see why the government needed (and to a lesser degree still needs) to incentivise early adopters to get the ball rolling. The cost and convenience aspects will start to approach parity for both EV and ICE, when it does there is zero need for an incentive at all. In fact the 2030 deadline and "Bob up the road just got one and he says it's great" factor will be all the momentum they need to break the 50% of new sales barrier. At that point it simply becomes the swansong for new ICE vehicles in the UK.
Just a shame that by the time my employer puts my backside in one any BIK incentives will be a distant memory.
If you read the full press release the government are saying "We have X million pounds to spend on EV incentives, and we want them to go on as many EVs as possible", so they're restricting it to the less expensive ones, which makes a lot of sense.
It's much easier to justify using it on a £25k VW ID3 than a £50k Tesla / Audi / BMW
They had already reduced the limit down to £50k previously so now they've just reduced it again to £35k.
It'll be interesting to see whether manufacturers try to make their RRP's at or under that £35k price point, rather than the common situation where BMW say a 3 series is £40k discounted to £30k.
It's much easier to justify using it on a £25k VW ID3 than a £50k Tesla / Audi / BMW
They had already reduced the limit down to £50k previously so now they've just reduced it again to £35k.
It'll be interesting to see whether manufacturers try to make their RRP's at or under that £35k price point, rather than the common situation where BMW say a 3 series is £40k discounted to £30k.
fleetnews quote "as soon as bik rate dropped, range anxiety disappeared" said it all
they linked data on the new 308 hybrid https://www.autocar.co.uk/car-news/...eot-308-gains-major-overhaul-and-phev-options
not a full electric though - guess that's not destined for that platform. - greens nice
they linked data on the new 308 hybrid https://www.autocar.co.uk/car-news/...eot-308-gains-major-overhaul-and-phev-options
not a full electric though - guess that's not destined for that platform. - greens nice
![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
It won't, but the manufacturers might now miraculously offer more models below £35k as they try to hit their targets, lets see how many of the cars priced at £38k+, now have options starting at £34999 OTR.
People speculated this would happen with the higher rate VED and it didn't - you still see cars with an RRP at a touch over £40k.
It's actually really really exciting - it even has wood trim.
It can't compare to the heart racing emotion that a Lexus CT provides, but then not much can cope with that powerhouse of modern styling can it?
The difference this time is the OLEV grant saving goes to the car company and not the customer.
VW’s second spec level ID.3 starts at £35.4K so it will be interesting to see if they reduce that by £400.
Last edited:
The OLEV grant does go to the customer in the form of a discount. (As we can see by the on-the-road price of cars like the Model 3 SR+ going up by £3k)
VW would be insane not to reduce that mid spec ID3 by £400. They will sell so many more cars by doing so.
I wonder if this will spark an increase of in-app-purchase options post-purchase.
Especially for software options but also options where it’s easier to install on every car then enable/disable via software)
E.g I can add heated rear seats to my car via an in-app-purchase
Especially for software options but also options where it’s easier to install on every car then enable/disable via software)
E.g I can add heated rear seats to my car via an in-app-purchase
Caporegime
- Joined
- 30 Jul 2013
- Posts
- 29,616
Additional options don't exclude the grant
E.g the Polestar 2 was £49900 with £3000 off for the grant.
If you added the performance pack, it was an option and so you still got the grant, even though the car became £54900
E.g the Polestar 2 was £49900 with £3000 off for the grant.
If you added the performance pack, it was an option and so you still got the grant, even though the car became £54900
Last edited:
Caporegime
- Joined
- 21 Jun 2006
- Posts
- 38,367
People speculated this would happen with the higher rate VED and it didn't - you still see cars with an RRP at a touch over £40k.
It's actually really really exciting - it even has wood trim.
It can't compare to the heart racing emotion that a Lexus CT provides, but then not much can cope with that powerhouse of modern styling can it?
Luckily that's my wife's car then. Mine is nowhere near as economical.
Prices of second hand Tesla Models 3's will be going up over the next few weeks, not that they'd lost a lot from the original purchase price mind you. Interesting to think people who've bought one could have used it for almost a year or more and cost them as much as a banger.
Soldato
- Joined
- 19 Oct 2002
- Posts
- 17,540
- Location
- Shakespeare’s County
Cos theory.
The grant coming off the new price making them more expensive.
I’m not sure who is buying these used model 3s though for £36k+. If your spending that much it’s only £5k more to get a new one which is a much improved model.
I don’t think they’ll go up, the 19 plate ones will start coming off lease soon and the downward pressure on prices will begin.
I’m not sure who is buying these used model 3s though for £36k+. If your spending that much it’s only £5k more to get a new one which is a much improved model.
I don’t think they’ll go up, the 19 plate ones will start coming off lease soon and the downward pressure on prices will begin.
That downward pressure isn't going to be anywhere near as great now the base price is £43k, suddenly the £36k ones will look well priced especially if it isn't white or none standard spec, this is regardless of the upgrades which I am sure will make a difference to some people, but not all.
I would pay £36k for the SR+ with upgraded wheels and the white interior but otherwise it's not worth it, unless you can't wait 2 months for a new one.
I'm sure you/we know that you can't judge the used value by looking at advertised prices.