The factors driving this surge include:
- Changes to Benefit-in-Kind company car tax.For 12 months from April 2020, there will be no company car tax on pure electric cars.Drive Electric estimates that switching to an EV from a plug-in hybrid could save £4,578 in a year for the employee and employer in BIK, fuel and National Insurance.
- A general trend away from employee car allowances towards the company car.
- More new models available to buy.More manufacturers are entering the market, partly because of new EU fleet-wide average emissions targets.
Marshall Motor Holdings Plc (LON:MMH), together with its subsidiaries, engages in retailing passenger cars and commercial vehicles in the United Kingdom. It sells new and used vehicles; and provides after sales services, such as servicing, body shop repairs, and parts sales.