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Date: 28 April 2021 Â Â |Â Â Author: Sean Keywood
Leasing company Arval says 89% of cars leased from it on salary sacrifice schemes are now EVs, compared with 39% two years ago.
The firm says that in the same time period, the total number of cars provided by its Arval Ignition salary sacrifice scheme has gone up by 252%.
Arval UK consultant Richard Cox said that government incentives were the main reason behind the growth in EVs.
He said: The single biggest reason behind the rise of the EV-centred salary sacrifice scheme in the last couple of years has been the introduction of zero and very low rate BIK taxation rates, meaning that the latest, most advanced and environmentally-friendly cars can be offered to employees at extremely attractive monthly rates.
Click the thumbs up >Almost nine out of 10 (89%) of cars leased via Arval UK on salary sacrifice are now an electric vehicle (EV), an increase from just four out of 10 (39%) two years ago.
Over the same time period, the total number of cars provided via its Arval Ignition salary sacrifice scheme has risen by 252%, thanks to growth from existing clients and the creation of new schemes.
Richard Cox, consultant at Arval UK, said these rapid changes were being powered by a combination of factors, but the most important driver was taxation.
“The single biggest reason behind the rise of the EV-centred salary sacrifice scheme in the last couple of years has been the introduction of zero and very low rate benefit-in-kind taxation rates, meaning that the latest, most advanced and environmentally-friendly cars can be offered to employees at extremely attractive monthly rates,” he said.