All Car Sales to be Electric by 2040

The sale of electric cars is on the rise, with many businesses switching their diesel and petrol vehicles for a more environmentally version. Whether that be a Hybrid or fully electric.

Electric car sales are quickly rising with the Government’s target to be net-zero by 2050, car manufactures are getting ahead of the game already.

Jaguar plans to sell only electric cars from 2025, Volvo from 2030 and British sportscar company Lotus from 2028. It’s not just the more ‘premium’ car manufacturers making the change, Ford says all vehicles sold in Europe will be electric by 2030, VW says 70% of its sales will be electric by 2030.

Global sales of electric cars raced forward in 2020, increasing by 43% which equalises to 3.2 million, despite overall car purchases decreasing by a fifth during the coronavirus pandemic.  

Electric Cars - Hire Purchase & Lease Finance

Predictions are that by 2025, all new cars sold globally will be electric which will then leap to 40% by 2030 and by 2040, virtually every new car sold globally will be electric.

It’s not just cars that are going electric, more and more vans are becoming electric. For example, there is the Ford E-Transit, Citroen Berlingo Electric, Mercedes evito, VW Crafter and Peugeot Partner.  

If you’re thinking about adding an electric vehicle to your company fleet, you will be able to take advantage of the Government’s Super Deduction Allowance if you meet the criteria. As well as commercial vehicles, electric charging points also qualify on the Super Deduction Allowance. 

If you’re looking for finance options to purchase new vehicles and charging points for your business, speak to us today. Whether it’s Hire Purchase Finance or Lease Finance, we’re confident that we’ll be able to arrange a finance solution to suit you and your business’ needs. Call us on 01270 443510 or complete our enquiry form and we’ll get in touch.