Leasing firms (industry body/representatives)
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Stories tagged Leasing firms (industry body/representatives)
UK leasing body warns Autumn Budget must fix company car tax to support struggling EV market
The British Vehicle Rental and Leasing Association has called for changes to company car tax in next week's Autumn Budget, citing a widening gap between strong fleet demand and weak retail EV sales. HMRC data shows 920,000 people now pay Benefit in Kind tax on company cars, up 200,000 since 2020/21, with half (467,000) in electric vehicles and a quarter (220,000) in plug in hybrids. BVRLA members' combined fleets grew 25% over five years to Q2 2026, rising from 1.37 million to 1.67 million vehicles, driven by tax incentives that set BiK rates at 4% for EVs versus at least 26% for efficient petrol and diesel models in 2026/27.
Why it matters
The imbalance between tax supported fleet demand and lagging retail sales signals potential market instability for charge point operators relying on diverse customer segments. Any Budget changes to company car tax could reshape EV adoption rates and infrastructure investment priorities across the UK.