September 19, 2021

Electrified vehicles see sharp sales’ rise with the new tax scheme

2 min read

This year, electric car sales figures indicate a significant rise in sales and just electric cars and plug-in hybrids, and self-charging hybrids. Statics shows vehicles with low CO2 outperformed the market, which is a turn of events in history since the electric vehicles venture kicked off. At first electric vehicles were termed as expensive cars, and for many years the move to electric cars was stagnant. However, since the COVID-19 pandemic, people are investing more in the machines. Different administrations have set up policies and incentives to encourage people to buy clean cars, which record low CO2 emissions.

In January, a new set of new vehicle registration taxes came to the public under the budget. Data from the Irish Motor Society‘s revenue society indicate that all the government’s requirements are complete. There is a significant and immediate pattern shift in the customers’ view towards cars with low C02 emissions. In a statement from Toyota Ireland’s director of strategy, you learn that the new tax schemes have led to a shift in the low emission cars sales chart.

Experts claim that the new system came to strengthen the environmental rationale and motivate car owners to settle for low-emitting and greener vehicles. Statics show that cars with low CO2 emissions, including AO and A1 have significantly grown while vehicles with the highest emitting bands decrease. AO includes electric cars that have net-zero emissions, while AI includes plug-in hybrids with low CO2 emissions.

There is a record of 986 EVs and 2,434 plug-in hybrids sales in January, a 10.7% and 54.6% increase in the same month, 2020. The lower emission vehicle sales this January represent 62% of the total sales in the market compared to the 49% in January 2020. One of the great sources of motivation is the new tax rules that encourage people to invest in low-emission cars.

During the Covid-19 pandemic, vehicles’ sales decreased, and it was a thorn to the rising growth of low-emission cars. Mr. Teevan spoke about the new rule and how it helps the Irish people get low-emission vehicles on the road. Also, he stated that the government needs to find new ways to attract more people to hybrid and electric cars.

However, the VRT changes were not well-received by everyone. Critics claim that the Irish government should make low-emission cars an option but not impose it on the people. However, Mr. Teevan claims that the government is receiving ridicule unfairly, and with the latest changes, it can achieve the one million EVs target on roads by 2030. He also spoke about the transition to low-emission cars and how the change is here to stay.

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