Labour’s new electric car discounts may only apply to 52 cars, according to analysis from leading motoring experts. The Government has confirmed the new grant, allowing up to £3,750 in funding during the sale of a brand-new electric model, will only apply to vehicles priced at under £37,000.
The threshold means the most expensive electric cars on the market, such as models from Tesla, Porsche and Polestar, are unlikely to be reduced. However, the high upfront cost of brand-new electric vehicles means the majority of models may also remain at their current rates. Iain Reid, Head of Editorial at Carwow, stressed that just over 50 cars on the market were under their £37,000 threshold.
He told the Daily Express: “The details around the scheme are still emerging. We know that cars must be priced at £37,000 or below to qualify, and that manufacturers will have to meet certain environmental commitments – but that criteria hasn’t yet been made public, so it’s unclear which models will actually be eligible.
“There are 52 EVs listed under £37,000 today, but how many make the final cut is still to be seen.”
In a list put together by Carwow, seen exclusively by the Daily Express, experts predict prices will fall on a series of the cheapest electric cars on the market. Discounts are likely to apply on models such as the plucky Fiat500e, Dacia Spring, Citroen Ami and Renault 5 models.
Prices could also fall on the cheaper Chinese electric cars on the market, which could put more pressure on traditional Western manufacturers.
However, this has yet to be confirmed with Carwow suggesting that models built in China are unlikely to receive the top grant.
Chinese models that have already hit the UK market are already some of the cheapest and well below the £37,000 threshold.The new savings mean that obtaining models such as the Leapmotor T03 and the BYD Dolphin could become even more cost-effective.
Six Vauxhall models also make the cut with models such as the Astra Electric, Mokka and Combo-e all under the £37,000 threshold. Other popular models which make the list include the Hyundai Kona, Kia EV3 and the Mini Electric.
The electric Ford Puma, Renault Megane e-tech and Peugeot e-2008 are also under the value and could be eligible for documents.
However, Carwow warns that discounts will be driven by the manufacturers, with firms applying for the grant when a sale is completed. They therefore point out that their list assumes all manufacturers with models under £37,000 will apply for the grant successfully.
