Electric cars are now a realistic alternative to petrol vehicles
Technology in the 21st century is advancing exponentially into every area of our lives – including how we drive.
With the future of our daily commute now hotly debated, electric cars appear to be a very realistic alternative to our much-loved petrol vehicles, which dominated the road until recently.
Pike+Bambridge ask, is now the time to make the change to electric?
The charge to electric
Earlier this year we wrote of the need to move to electric being hampered by concerns over range, and most importantly the lack of options in terms of models available, without incurring prohibitive cost.
Unlike much of the policy work the government is involved in at present, this summer saw a clear and swift decision that completely changed the tax perspective for those with the ability to run cars through their business.
From 6 April 2020, fully electric cars will incur 0% benefit in kind tax for company car drivers.
Research recently released by Deloitte suggests that these changes could see a ‘typical’ 40% tax payer with a company car, save over 95% in company car tax over a 4-year “total cost of ownership” (TCO) period.
At Pike+Bambridge, our focus is on professional services firms rather than the large 100+ vehicle fleets the research on this subject tends to focus on. As an ICAS member Pike+Bambridge tailor its service to suit you, whether you are just beginning your career or a senior professional and/or Director.
For example, our research suggests that a typical Private Client Concierge customer, driving one of our core models, for example a Range Rover Sport, Mercedes GLE or BMW X5, could save a significant amount of money switching to electric.
The same applies if you are needing a small city car. We are recommending clients start making changes to move to electric, hence why we are seeing our core brands release electric replacement cars to their successful models. For example, Mini Coopers are going Electric and Volkswagen are taking the charge with 8 EV’s set to be released in the coming two years.
For a long time we have been advised to avoid the ‘company car’ and instead take the main car personally, but with the introduction of the new company car tax rates on zero-emission vehicles next year, it’s a much more viable option.
Obviously there are many things to consider, over and above simply the tax savings, and indeed this is where our expert team comes in. What is more, our focus on the premium manufacturers and excellent supply terms has never been more appropriate, as Audi’s e-Tron, Jaguar’s I Pace and Tesla’s Model X lead the way in 4x4 fully-electric options. And in the small city cars, Nissan Leaf, Tesla Model 3 and the Volkswagen e-Golf.
Pike+Bambridge is the only independent vehicle broker wholly focused on an expert, advisory approach to help professionals save both time and money.
The next few years represent the most fundamental shift in automotive technology, ownership patterns and routes to market in the last 100 years. We are here to help professionals navigate it with the minimum of hassle.
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About: Pike + Bambridge
At Pike+Bambridge, our vision continues to be simple: to change the way the world buys cars. Our Membership and Private Client Concierge departments aim to be the number one provider of vehicles to professionals throughout the UK.
This blog is one of a series of articles from our commercial partners.
The views expressed are those of the author and not necessarily those of ICAS.