Around 80% of employees who have opted out of their company’s company car scheme are either ‘likely’ or ‘very likely’ to switch back to the company car – and many of them will plump for an electric vehicle.
That’s according to Drive-Electric, which has pinpointed the forthcoming change to Benefit in Kind taxation as a key driver of change. Battery-powered electric cars will incur zero company car tax from April 2020, which means employees could save thousands of pounds a year by switching to a pure EV.
Lower whole-life costs, the growing number of proposed Clean Air Zones, and motorists preferring the driving experience of EVs are also having an effect.
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.