Electric Vehicles: The new go-to company car?

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New research into the ownership of electric vehicles (EVs) has revealed that approximately 700,000 UK drivers would choose one if they were offered as a company car by their employer.

This figure is significant, given that only a quarter of UK businesses currently have EVs as an option for their employers to choose as their company car.

Increased focus on sustainability

The number of electric vehicles that have been registered up to and including October of this year exceeded 30,000, with just under three quarters of them being selected by UK businesses for their employees. According to statistical data from the government, close to 1 million fleet cars are registered to UK companies. This information serves as a note to UK businesses that electric vehicles have the potential for increased growth.

Pros and cons

It is hoped that these statistics will go some way in bringing more and more UK businesses in line with the increased global focus on creating a sustainable future. While EVs have potential to corner the market as the company vehicle of choice, their offering comes with positive and negative impacts. As a relatively new innovation, the initial cost to UK companies in purchasing or leasing electric vehicles will be potentially higher than what is currently budgeted for. The positives from this however are that zero emissions will ultimately result in the reduction of company costs, as well as the overall improvement to air quality.

Consumer interest in electric vehicles

As the UK’s leading online car finance provider, Creditplus have recognised both consumers’ interests and needs for EVs, and the requirement for additional sustainable alternatives. Because of this, they offer a select range of electric vehicles to those who desire the current innovative technology that these vehicles provide. Just two of the cars that Creditplus currently offer include the BMW i3 and the Nissan Leaf, both of which are available as Personal Contract Purchase, Hire Purchase or Lease Purchase finance options.

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