The car industry is urging the Chancellor of the Exchequer to cut the price of new electric cars for private buyers, via a hefty 50 per cent discount on the rate of VAT. This, it says, would see average EV prices drop by £4,000 and boost EV sales by 270,000 over three years.
The call comes as new research for the Society of Motor Manufacturers and Traders (SMMT) shows that almost half of the would-be electric car buyers are intending to wait until after 2030 to make the switch from their internal combustion-powered models, a number that has shot up from just 10 per cent last year before the new petrol and diesel car ban was delayed.
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