Electric car shortfall could see motorists lose £9billion over the next 20 years
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The shortage of electric cars means drivers could lose £9bn over the next 20 years if the government fails to boost electric car adoption
- Used small to medium sized electric vehicles can save owners over £500
- It is estimated that there will be 2.1 million fewer small and medium electric vehicles for sale by 2033
Motorists will miss out on £9bn in savings over the next 20 years if the government fails to boost electric car use.
A report found that used small to medium electric vehicles (EVs) can save owners between £500 and £800 a year in running costs compared to petrol equivalents.
But the Energy and Climate Intelligence Unit warned that a lack of available second-hand EVs could cost drivers £9 billion in missed savings by 2043.
It estimated that if the government sticks to the proposed level for the incoming ‘zero emissions car mandate’ there will be 2.1 million fewer used small and medium electric cars on sale by 2033 – compared to a scenario where ministers adopt the ‘ industry’s high sales forecasts.
The mandate forces manufacturers to increase the share of new cars and vans they sell in the UK that are zero-emissions. The government wants this level to be set at 22 percent by 2024 and rise every year – including to 38 percent in 2027 – until 2035, when 100 percent of sales must be emission-free.
A report found that used small to mid-sized electric vehicles (such as the Tesla Model 3 pictured) can save drivers £500-£800 a year in running costs compared to petrol equivalents
It estimated that if the government sticks to the proposed level for the incoming ‘zero-emissions vehicle mandate’, there will be 2.1 million fewer used small and medium electric vehicles for sale by 2033.
But ECIU analysis of a forecast from the Society of Motor Manufacturers and Traders suggested that if EV adoption were “high,” their market share would reach 34 percent by 2024 and as high as 60 percent by 2027.
Colin Walker, from the ECIU, said: “If government policy on new EVs moves slowly, the growth of the used EV market will be curbed, potentially making households more expensive.”
The Department of Transport said it was working “closely” with the car industry “towards all new cars being zero-emission by 2035.”
The ECIU believes manufacturers could choose to sell more of their EV stock in the UK if the country sets a stricter ZEV mandate than the European Union.
A spokesman for the Department of Transport said: ‘We are working closely with industry towards all new cars being zero-emissions by 2035, and we are carefully considering all issues raised as we discuss our mandate.
A Zero Emission Vehicle (ZEV) mandate will force manufacturers to increase the share of new cars and vans they sell in the UK that are zero-emissions
The Department for Transport said it was working ‘closely’ with the car industry ‘towards all new cars being zero-emissions by 2035’
“More broadly, we have invested over £2bn in helping consumers make the transition to electric vehicles.”
Meanwhile, modeling by the charity RAC Foundation, published on Sunday, showed that the reduction in overall car carbon emissions needed to meet UK climate change targets could be achieved without reducing drivers’ travel overall.
The analysis showed that a 40 percent reduction in car CO2 emissions between 2021 and 2030 could be achieved through major changes in other areas, such as battery-powered electric cars that will account for 35 percent of the total vehicle fleet by 2030.
RAC Foundation director Steve Gooding said: ‘From a planetary point of view, the next car people buy is critical.
“For those thinking about going electric but are hesitant – perhaps put off by the upfront price – there is a reason to pause and see how things develop in a year or two, rather than backtracking. fall on gasoline.’
