2024 RZ revisions

[John Adams]

9 hours ago, Malc1 said:

We’re taking a while to come out of this Recession

 

What Recession?

[Tickedon]

10 hours ago, Malc1 said:

We’re taking a while to come out of this Recession ……. New car sales must be somewhat challenging …….. who’s got plenty of spare cash then …….., 

Golden Oldies maybe 🤔

very very careful how they spend their dosh maybe ! 

Malc 

Lexus are on track to sell a similar number of cars in 2024 as they did in 2023 (which was a record sales year for them). There is no problem selling cars.

The problem is the government net zero nonsense, requiring all car manufacturers to have EVs make up 22% of their sales this year. For every car short of 22%, there’s a £15,000 penalty per car. The public don’t want that many EVs - sales are 15-16% of total car sales so far in 2024. 

As well as selling an EV, which gets you one car credit towards the 22% threshold, manufacturers- through a complex formula - can also earn partial credits for the first couple of years by lowering their average sales co2 emissions. Plug-in hybrids have much lower regulated emissions, so really help with earning credits. Hence why Lexus has been offering bigger deposit contributions and lower PCP interest rates on plugins (but not normal hybrids), and, has now cut prices for its EVs and plugins only - there was no price cut on standard hybrids which don’t help with EV credits. 

52 minutes ago, John Adams said:

What Recession?

Indeed… while we had a technical recession, most didn’t notice, and growth since has been good compared to other g7 countries: https://kpmg.com/uk/en/home/media/press-releases/2024/07/uk-economy-is-turning-a-corner-amid-softer-global-growth.html

[wivenhoe]

As Tesla only make EV’s then they can sell their unused % - I wonder who will be buying them  ?

I really wish Lexus had held back the RZ until 1st Jan to earn the credit towards the 22% and taken time to have fully developed the car with the update etc. I would have waited and probably bought a Porsche Mecan EV instead of putting my trust in Lexus. 

[Tickedon]

1 hour ago, wivenhoe said:

As Tesla only make EV’s then they can sell their unused % - I wonder who will be buying them  ?

I really wish Lexus had held back the RZ until 1st Jan to earn the credit towards the 22% and taken time to have fully developed the car with the update etc. I would have waited and probably bought a Porsche Mecan EV instead of putting my trust in Lexus. 

I believe quite a few RZ cars were held back for registration is January… 

[Malc1]

On 7/3/2024 at 8:42 AM, John Adams said:

What Recession?

Popping the January sales back to where they belonged, end of 2023 …….. might reveal a slowdown in the 1st half of 2024 sales and perpetuating …… and most people in the UK simply feeling the pinch ……. except in Devon maybe 🤔

Malc 

[John Adams]

52 minutes ago, Malc1 said:

Popping the January sales back to where they belonged, end of 2023 …….. might reveal a slowdown in the 1st half of 2024 sales and perpetuating …… and most people in the UK simply feeling the pinch ……. except in Devon maybe 🤔

Malc 

 

[FredD]

Does anyone if the Labour government plans to increase the BIK percentage on electric cars ? They have not said anything and it would be an easy measure to introduce (although this would probably destroy the electric car market in the UK)

[Tickedon]

1 hour ago, FredD said:

Does anyone if the Labour government plans to increase the BIK percentage on electric cars ? They have not said anything and it would be an easy measure to introduce (although this would probably destroy the electric car market in the UK)

https://labour.org.uk/wp-content/uploads/2024/06/Labour-Party-manifesto-2024.pdf

https://labour.org.uk/wp-content/uploads/2023/10/WR-797_23-Automotive-strategy-v8.pdf

As with most things, nothing said either way by Labour. Though EV BIK rates are already set to increase by 1% a year for the next couple of years. 

However, being generous, given the rhetoric about supporting a switch to EVs, increasing BIKs further would be counter-productive and contradictory.

[wivenhoe]

They don’t need to as the Tories have already increased it from 2% in tax year 2024 / 2025 to 3%  after which it will increase by 1% a year each year to reach 5% in 2027/2028.

[FredD]

Even at 5% in 2027/28 the rate will significantly be lower than the rate for a petrol/diesel car of the same list price as the RZ

[wivenhoe]

I should have added that Labour have indicated that they will restore the fuel duty currently cut until 2025. I reckon they’ll not only restore the cut but increase the fuel duty from April 25 so they can say it has kept the taxation on fuel the same as personal tax on EV’s. This is Milliband’s territory so I can see them ramping up tax on ICE cars after reinstating the ban back to 2030 extended by the Tories recently to 2035. These are easy taxes to collect, can be sold as ‘green’ but will be inflationary due to the cost increase on transport.

Stand by for the current exemption from the £ 450 Additional Rate for 24/25 for existing EV’s being removed too.

Some London councils have increased parking fees for diesels and are about to bring in increased fees for cars over 2 tonne, which most EV’s are due to the batteries. As all these types of taxes are easy to collect by using cameras, I expect more novel ways to treat car owners as tax ‘cows’ as it aligns with the climate change direction of travel. 
 

[Malc1]

I don't doubt for one minute that the revised policies with taxing cars in all sorts of ways, novel or not, will be to the fore to enable more deserving causes to be paid for ...........  the 35% pay rise for Junior Drs to name but one   😂

Car owners are to be clobbered whichever method the financiers wish ......  and I don't think they'll be hiding it either .......  but of course they'll blame the previous Govt ..  of course   Why not ! All this politiking is a joke ..  just so long as they get their hands deeper into our pockets .......  after all, we can afford it, we're Lexus owners 🤢

And EV owners will of course be " fair game "   ..................  as will everfyone 😇

 

Malc