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Lex Autolease reports strong EV offer take-up

Date: 10 May 2019   |   Author: Sean Keywood

Lex Autolease says it has so far committed £467,000 from a £1 million fund designed to encourage uptake of electric vehicles (EVs).

The leasing firm is offering £1,000 cashback on each EV ordered since the start of 2019, with 467 qualifying orders made in the first four months of the year. 

That's in addition to 530 other orders that fall outside the scheme - because, for example, there is a limit of 50 per corporate customer.

Of all the EVs ordered from Lex so far this year, 80% are business contracts; there is an 80/20 split between cars and LCVs. 

Richard Jones, managing director of motor finance and leasing at Lex parent company Lloyds Banking Group, said: "The Committee on Climate Change has recommended a target for all new car and van registrations to have zero emissions by 2030. 

"Drivers who buy a new car typically own it for four years, which means 2030 could be just three renewal cycles away for many. 

"I believe a real focus needs to be on helping people to understand their purchasing options when it comes to the fuel types available.

"As an industry, we should be educating, encouraging and incentivising customers to get out of their older vehicles in favour of newer, cleaner engines."