Transport and Environment (T&E) UK is calling for benefit-in-kind rates to be extended beyond 2027/28 and for further tax reforms to address high corporate SUV and plug-in hybrid sales.
T&E UK - the national office of Europe’s leading advocates for clean transport and energy - has published a briefing on how the UK’s corporate channel performs on BEVs, PHEVs and SUVs:
- 22%of new corporate car registrations in 2023 were battery electric vehicles
- 75%of all BEV sold in the UK in 2023 were in the corporate market
- 74%of all new plug-in hybrids sold in the UK were in the corporate market.
Corporate fleets in the UK are performing comparatively well in terms of electrification compared to their peers in Europe. Rates of battery electric vehicle registrations have the UK ranked as the 8th best in Europe and the 4th best in western Europe.
Out of all corporate registrations in 2023, 22% were a BEV, exactly in line with the targets set out in the ZEV Mandate. In fact, the corporate channel was responsible for 75% of all BEV sales in the UK. With corporate sales making up 57% of all new car registrations in the UK, this sector will be vital to the transition to electric vehicles. The success is largely due to the benefit-in-kind rates applied to BEVs purchased in the corporate channel.
UK corporate cars electrifying quickly | T&E (transportenvironment.org)
