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Most drivers would not choose EVs over petrol or diesel vehicles without stable BIK company car tax rates, according to salary sacrifice provider Tusker.
A survey of 2,000 in-work drivers found that 78.2% said low BIK rates were the deciding factor in their decision to go electric, and 55% would not currently choose an EV if BIK rates rise in line with petrol or diesel cars.
The research also identified the appeal of salary sacrifice EVs, with 60% of drivers saying they would go electric or plug-in hybrid if salary sacrifice was available, whereas without it, 61% would choose a petrol, diesel, or non-plug-in hybrid car instead.
The research feeds into a new report from Tusker which argues government EV tax incentives have been successful. It highlights how Prior to the introduction of favourable BIK rates, 97,565 were sold in the UK in 2019, however in 2020, 205,770 were sold after they came into force. This trend has continued, with more than 592,000 EVs sold so far in 2022.
Other findings from the report include that 58% of drivers would consider changing to an EV due to the cost of running an ICE vehicle, more than two-thirds of Tusker drivers are 20% tax payers, and the average driver would save £730 in fuel a year by swapping a Volkswagen Golf for the equivalent Volkswagen ID.3.
Tusker CEO Paul Gilshan said: "Our report provides the latest market intelligence and trends around drivers and their view on the current and future EV ecosystem.
"It confirms that salary sacrifice and the stability of BIK rates are key for the long term, widespread adoption of EVs by mass market drivers."
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