Close Brothers Motor Finance (CBMF) has highlighted a ‘disconnect’ between the Government’s policy on ICE and dealer confidence.
The timeline of the ban on new petrol and diesel vehicles has led to 78% of dealers expressing doubts about whether than ban will go ahead in 2030.
John Cassidy, MD of Sales at Close Brothers Motor Finance, said: “As the government pushes forward with its ambitious goals, our findings highlight a clear disconnect between policy ambitions and confidence among dealers.
“While the shift toward electric vehicles remains a vital component of reducing carbon emissions and combatting climate change, significant investments in infrastructure, affordability, and consumer education will be crucial.”
Almost three in four (73%) are concerned about the time that it will take to improve infrastructure to the standard needed to support the switch to EVs while 68% of dealers believe there is a lack of consumer interest in making the switch in the first place.
In addition, 17% have said there is ‘too much confusion’ over the deadline.
Costs are a concern as 35% of dealers say affordability will still be an issue when it comes to selecting EV models and 29% say potential hikes in electricity prices are off putting.
Cassidy added: “Ahead of the Spring Statement, many will be hoping the government addresses these concerns. While we have seen some positive news from the Planning & Infrastructure Bill which sets out plans to streamline the installation process for EV charging points, it is still nowhere near the required level needed.
“Further findings from our EV study found that more than a quarter (28%) of EV drivers find the lack of charging points a challenge, and more than one-in-five (21%) have had issues with charging points not working.
“If the Government targets are to be realistic, it’s crucial that the infrastructure gets the levels of investment needed to really make EVs an attractive proposition.”