Midlands-based leasing broker Gateway2Lease has reported an 18% rise in electric vehicle (EV) enquiries in August compared with July, following the launch of the UK Government’s Electric Car Grant scheme.
The firm said interest has been particularly strong in grant-qualifying models such as the Cupra Born, Renault 5 and Renault Scenic, underlining the scheme’s potential to stimulate demand. But Gateway2Lease cautioned that fluctuating lease prices and shifting eligibility criteria could undermine customer confidence.
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According to the broker, concerns among manufacturers and funders over residual value exposure are “causing fluctuations in lease pricing,” which in turn is creating confusion for customers.
The government has already adjusted grant rules since the mid-July launch. At the end of August, a new £42,000 price cap was introduced, replacing the earlier £37,000 threshold that had applied to base-level trims. Initially, higher-spec versions of models still qualified provided the entry variant fell below the cap.
Kelly Marshall, Managing Director at Gateway2Lease, said the scheme had been “well received to date” and the August uptick was “encouraging – especially in August which can be quieter due to the holiday period.”
She added that “consistency and clarity” would be essential for the initiative to achieve its goals: “What will be key is how the continued grant rollout is managed… We’re optimistic that as more vehicle models are approved and the scheme matures, it will achieve its goal of increasing EV accessibility.”
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By GlobalDataGateway2Lease also confirmed that both business and personal customers are showing more willingness to switch to EVs. The trend reflects wider market movement, with the Society of Motor Manufacturers and Traders reporting a near-15% year-on-year rise in new battery electric registrations last month.
