Latest news with #NimbleFins
Daily Mail
14-07-2025
- Automotive
- Daily Mail
Critics demand Labour to scrap its £700m taxpayer-funded electric car grant as EVs fail to sell and transport minister admits she doesn't own one
A Labour plan for £700 million of taxpayer-funded subsidies to encourage more people to buy electric vehicles (EVs) has been blasted by critics who are calling for it to be scrapped. Heidi Alexander, the Transport Secretary, will announce grants for drivers to cover the cost of a new EV, as well as more money for charging points. It comes amid growing concern that the lack of sales of EVs are putting the Government's net zero targets at risk, The Telegraph reported. Ms Alexander admitted on Sunday that she has not been able to afford an electric car - as she prepares to unveil millions of pounds in new subsidies. The Cabinet minister- who earns around £160,000 - said she had not purchased a vehicle for about six years as it was 'expensive'. She also pointed to difficulties in getting charging cables from her terraced house - but said she would 'definitely' be buying an EV next time. Critics called for the subsidy scheme to be 'scrapped immediately'. Shimeon Lee, policy analyst at the TaxPayers' Alliance said: 'Taxpayers shouldn't be footing the bill for the government's costly obsession with net zero. 'If electric vehicles are truly the future, they should succeed on their own merits, not rely on £700 million in handouts to prop up sluggish sales. 'This subsidy scheme should be scrapped immediately.' Many drivers have been put off by the price of electric cars, which average around £50,000, more than double the cost of a petrol car at around £22,000, according to NimbleFins. Due to the batteries degrading, the electric vehicles also lose value faster than petrol and diesel cars. From 2030 sales of new diesel or petrol only vehicles are meant to stop - while from 2035 all new cars must be electric. The move will force drivers to switch to electric-powered vehicles, whether they want to or not. The subsidies will favour British-built cars in particular, including the Nissan Leaf, which is being made in Sunderland from next year. While EV sales have steadily grown in recent years, much of the demand has been met by fleet purchases rather than ordinary drivers. Private retail demand for EVs grew 5.9 per cent since in the past year but still accounted for just less than four in 10 new cars registered. Business registrations also fell 15 per cent this year. The roughly 1.5 million EVs reported to be on UK Roads are still dwarfed by the 19.2 million petrol and 11 million diesel vehicles. Appearing on the BBC 's Sunday with Laura Kuenssberg show, Ms Alexander said a £63million fund would create tens of thousands of new charging points. The cash will help councils install cables under roads where there are no driveways. And a plan due to be revealed on Tuesday would see Brits given grants towards buying an EV. The scheme - thought to be worth around £640 million - could mean money off down payments. The biggest grants are likely to target UK-manufactured vehicles such as Nissan. Similar subsidies were prematurely scrapped by the Tories in 2022. Ms Alexander said there was 'some good news' on EV sales, pointing out that as of June one in four new cars in the UK was electric. 'But we do need to make it easier and cheaper for people to buy an electric vehicle. 'So today we're announcing a really big investment, £63 million in charging infrastructure across the country, £25 million for councils so that people like me, who don't have a driveway. 'I live in a terrace house, if I had an EV, I'd be asking myself questions about how I would get the electric cable across to the car.' Kuenssberg interjected: 'So the Transport Transport Secretary doesn't have an electric car, but you're telling everyone else to have one?' Ms Alexander replied: 'I don't have an electric car, Laura, but I'm like millions of people in this country who, I bought a new car about six years ago, I'm thinking about the next car that I will purchase, and it will definitely be an electric vehicle. 'I'm not in the habit of changing my car on a yearly basis, expensive as it is, and so that's why we're making £25 million available to councils so that they can provide financial support to households who want to put in a cross pavement gulley, so that you can safely run the cable across the pavement.' When the Conservatives scrapped the subsidies for electric vehicles in 2022, it was thought they were no longer needed as the UK electric car revolution has been 'kickstarted'. Across the first six months of 2025 new battery electric cars sales have risen 34.6 per cent to around 230,000, which equates to 21.6% of the market. However the Zero Emission Vehicle mandate the government has set says 28 per cent of car sales should be electric this year, meaning the sale of EVs is behind schedule for net zero plans.
Daily Mirror
13-07-2025
- Automotive
- Daily Mirror
'I bought cheapest EV in UK for £2.5k to prove you needn't spend a fortune'
Car enthusiast Alex has snapped up the cheapest electric vehicle (EV) he could lay his hands on and tried it out so you don't have to — here's everything he learned, including one big downfall A motor enthusiast has proven you don't need to break the bank to switch over to an electric vehicle (EV) - but is it worth the risk? While many Brits are tempted by zero-emission vehicles, their price point remains a huge barrier. Research from Nimble Fins found the average price of an EV in the UK is around £46,000 - with costs widely ranging from £14,995 to a whopping £333,000. Buying second-hand can of course help slash the cost, but comes with its own set of potential issues. So, following his travels around Asia, influencer Alex — who goes by the handle alexcarsmedia —bought a 2015 Nissan Leaf Acenta+ with only 61,000 miles on the clock to find out whether you actually need to spend a small fortune. This is well below the average mileage for a 10-year-old vehicle, suggesting less wear and tear, as well as, potentially, a longer remaining lifespan. The car has no record of accidents or major issues either, a crucial factor in any used vehicle purchase. Regular maintenance has been documented — it has had five or six services in its lifetime. This is particularly important for used EVs, as a well-maintained battery and electrical system can significantly extend the car's usability. The car retains 11 out of 12 battery bars, indicating minimal battery degradation. For older EVs, battery health is a major concern, with Alex describing it as 'the most important thing when you look for a used electric car'. But most of all for Alex, he really likes its 'cool blue wheels'. However, the car is not without its drawbacks. There are numerous small dents on the roof and a pretty significant one on the bonnet. While these do not affect drivability, they could impact resale value and aesthetics. There's also rust on the suspension, which can be a concern for the longevity of its components. The brakes and tyres are worn and will need replacing soon, an added expense for the new owner. Also, the car wasn't clean when purchased — while superficial, this can be off-putting and could possibly be an indicator of neglect in other, more important areas. Alex goes on to reveal that the price of the car was only £2,400. The other associated expenditures are detailed in the captions — the insurance costs £450 and the road tax just £20. So his total outlay came to just £2,870. This total is remarkably low for an EV, especially considering the car's good battery condition. In a further video titled 'What it's Like Driving a Budget Electric Car After 30 Days' on YouTube, Alex describes his thoughts after a month with his new EV. He says: "The overall experience has been good with my electric car. It did take a bit of getting used to, but there are plenty of apps out there to find public charging spaces… I'm also prepared to plan a bit more ahead now with my journey to know exactly which charger I'll be using." Alex's experience underscores the viability of buying a cheap used EV for those willing to accept some cosmetic imperfections and minor maintenance needs. However, prospective buyers should budget for immediate repairs and be realistic about range limitations, ensuring the car fits their daily driving needs.
Yahoo
28-01-2025
- Automotive
- Yahoo
Ray Chapman Motors spokesperson argues for electric vehicles
A representative of a Bradford car retailer has offered three reasons why, in his opinion, electric cars (EVs) "will save you money." Duncan Chapman, of Ray Chapman Motors, on Canal Road, said: "As petrol and diesel prices rise, and more used electric cars enter the market, now is the perfect time to make the switch to electrification and benefit from the savings in fuel and insurance that owning an EV brings." The first reason offered by Mr Chapman was that, as he claimed, EVs are cheaper to run. According to data "obtained by NimbleFins" in 2024, and in the words of Mr Chapman, "EV drivers pay £567 to charge their cars annually, based on driving 6,300 miles a year; by contrast, petrol and diesel drivers pay £1,146 to cover the same mileage – a significant £579 increase in cost." The second reasoned offered by Mr Chapman was that, as he claimed, EVs can be cheaper to maintain. In justifying his opinion, Mr Chapman referred to the regenerative braking in EVs which makes braking (he claimed) "more efficient because less pressure is applied to the brakes." Mr Chapman's third offered reason was the prevalence of used EVs on the market, which, in his words, "is a great option if you're keen to make the switch but don't want to go for a brand-new car."
