Comment: Zero Emissions Vehicle Mandate will be a net benefit to UK economy, Government data shows
Colin Walker is available for comment and interview.
By Patricia Curmi
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Ahead of the Government’s Zero Emission Vehicle Mandate’s being debated in Parliamentary committee tomorrow, Colin Walker, Head of Transport at the Energy & Climate Intelligence Unit, said,
The Government’s impact assessment for the ZEV mandate clearly states that, once you subtract the policy’s costs from its economic benefits, the net benefit to the UK economy is £39bn [1], or around £1,400 per household.
That’s because the ZEV mandate will accelerate the UK’s uptake of EVs, and EVs are much cheaper to own and operate. Research by the ECIU has found that a Nissan Leaf, compared to a petrol equivalent, can save its owner over £1200 a year in fuel costs alone. [2]
To access these savings, most UK households will rely on the second-hand market - its where most of us buy our cars. And this is where the ZEV mandate will play a critical role – in driving up sales of new EVs, it will drive up the pace at which EVs arrive on the second hand market. Without it, the UK’s drivers will be stuck driving slower and more expensive petrol cars for longer”.
Notes to editors
- https://www.legislation.gov.uk/ukdsi/2023/9780348252453/pdfs/ukdsiod_9780348252453_en_001.pdf
- The UK's second-hand car market, ECIU analysis https://eciu.net/analysis/reports/2023/embargoed-27-feb-the-uks-second-hand-car-market
For more information or for interview requests:
Colin Walker, Head of transport, ECIU, Tel: 07779 284912, email: colin.walker@eciu.net