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06 Mar 2024
FIAT reacts to Government Spring Budget 2024
FIAT reacts to the lack of incentives in the Government’s Spring Budget to stimulate the sale of electric cars to private customers Despite lack of Governmental action, FIAT continues to offer its E-Grant of £3,000 on all electric models
- FIAT reacts to the lack of incentives in the Government’s Spring Budget to stimulate the sale of electric cars to private customers
- Despite lack of Governmental action, FIAT continues to offer its E-Grant of £3,000 on all electric models
Damien Dally, Managing Director, FIAT UK, commented:
“It’s hugely disappointing that the Chancellor has failed to reinstate financial incentives for electric vehicle buyers in today’s budget.
“While the extension of a 5p cut in fuel duty will be welcome news to motorists, it’s estimated the cost to the Treasury will be around £5 billion to implement.”
“The Government has missed an opportunity to ringfence some or all the money that would have come from the fuel duty rise and invest it into this country’s seemingly dwindling electric vehicle strategy.
“The Government has set the direction of travel by enforcing the Zero Emission Vehicle (ZEV) Mandate and Net Zero target but is doing nothing to incentivise private (retail) customers to drive electric vehicles.
“The numbers don’t lie; private sales account for fewer than one in five electric car registrations in 2024 – and the overall market share is way below the 22% mandated by the government as part of the ZEV Mandate.
“The demand for electric vehicles is waning and we are sleepwalking into an electric vehicle crisis. The Government is also potentially putting its Net Zero target at risk.”
“Without any Government financial incentive there’s no reason for the consumer to make the switch - which is why we launched the £3,000 FIAT E-Grant last June.
“FIAT is doing its bit, but this requires a collective effort to reverse the downward trend. Unfortunately, it seems the switch to electric isn’t a priority for the government.”
6th March 2024
ENDS
Contact:
VINCE CLISHAM
HEAD OF PUBLIC RELATIONS
vincent.clisham@stellantis.com
LUCINDA INGGS
PUBLIC RELATIONS MANAGER
lucinda.inggs@stellantis.com
MICHAEL ARNOLD
PRESS FLEET MANAGER
pressfleet@stellantis.com
JEREMY TOWNSEND
COMMUNICATIONS DIRECTOR
jeremy.townsend@stellantis.com