Press release

17 Nov 2022 London, GB

EY comments on whether Chancellor’s announcement deter ‘petrol heads’ from making the switch to electric

David Borland, EY head of automotive in UK, comments

Press contact
David Borland

EY UK&I Automotive Leader

Passionate about the automotive industry and delivering innovative solutions for clients. Outside of work, focused on family and community. Enjoys sports.

Related topics Growth

David Borland, EY head of automotive in UK, comments: 

“The Chancellor’s announcement that electric cars will no longer be exempt from vehicle excise duty from April 2025 could decelerate the UK’s journey to net zero.

“Along with the higher list price of EVs, the recent BIK increase, concerns on charging infrastructure all in the middle of a cost of living crisis, consumers may be reluctant to transition to a greener car fleet.

“On the positive side, there could be a short term demand increase in EVs prior to 2025, but whether manufacturers that are already struggling with order backlogs can fulfil any demand remains to be seen.”