WORCESTER-based leasing broker Gateway2Lease reports an 18% uplift in electric vehicle enquiries in August compared with July, following the launch of the UK Government’s Electric Car Grant scheme.
Gateway2Lease says it has seen particularly strong levels of interest across grant qualifying EVs including the Cupra Born, Renault 5 and Renault Scenic – highlighting the scheme’s potential to stimulate EV demand. However, according to Managing Director Kelly Marshall (pictured above), market inconsistencies in lease pricing and changes to grant parameters could risk undermining customer confidence.
Gateway2Lease says that OEM and funder concerns about EV residual value exposure are causing fluctuations in lease pricing, which in turn is creating customer confusion.
Grant eligibility rules have also already shifted since the scheme launched in mid July. At the end of August, the government introduced a new £42,000 price cap for qualifying models. Initially, eligibility was determined by the entry-level price of each powertrain variant, meaning higher-specification trims of the same model were also included if the base model fell under the original £37,000 threshold.
“We hope that The Electric Car Grant will be really positive for the motoring industry and our customers. The grant has been well received to date and the uptick in EV enquiries is encouraging - especially in August which can be quieter due to the holiday period. What will be key is how the continued grant rollout is managed. For the scheme to be effective, we need consistency and clarity - for customers and the market as a whole.”
Kelly, a former winner of Women in Broking, added that she was optimistic that as more vehicle models were approved and the scheme matured, it would achieve the grant’s goal of increasing EV accessibility.
Gateway2Lease has confirmed that both its business and personal customers are increasingly open to switching to electric vehicles. This trend echoes the wider market, with the latest Society of Motor Manufacturers and Traders data showing new battery electric vehicle registrations were up almost 15% this August, compared with the same month in 2024.
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Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
