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The Government has confirmed that it will substantially reduce financial incentives to help motorists purchase the greenest new cars on sale from next month.
As we reported earlier this week, the Plug-in Car Grant will have revised rates from November 9, with the current electric car subsidy reduced from £4,500 to £3,500 and grants for plug-in hybrid cars - which were £2,500 - rescinded entirely.
Department - Transport - Changes - Date - Surge
Cheekily, the Department for Transport has even suggested it may introduce the changes earlier than that date if there's a surge in orders of electric and hybrid models with drivers trying to take advantage of the expiring rates.
The move has angered motoring groups, who have slammed the decision at a time when ministers are trying reduce emissions by forcing drivers out of petrol and diesel vehicles in particular and into more expensive electrified cars.
Announcement - Thursday - Evening - Money - July
An announcement on Thursday evening confirmed what This is Money reported back in July.
The decision will see the financial incentives substantially reduced for electric models and culled for plug-in hybrids altogether.
Anyone - UK - Best-selling - Model - Mitsubishi
That means anyone who wants to buy the UK's best-selling electrified model - the Mitsubishi Outlander PHEV - from November 9 will have to pay the full price, from £36,755 to £45,600.
This is despite the Government's proposal to remove petrol and diesel cars from sale in 2040 and force all motorists to own electrified models from 2050.
Department - Transport - 'changes - Vehicles
The Department for Transport said the 'changes to funding' will 'support purchasing the next 35,000 of the cleanest vehicles'.
'These changes to financial incentives reflect the ongoing success of the Plug-in Car Grant in increasing uptake of electric vehicles, a key part of the government's Road to Zero strategy.
PICG - Market - Government - Support - Emission
'The PICG has helped the plug-in hybrid market become more established, and the government will now focus its support on zero emission models like pure electric and hydrogen fuel cell...
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