ELECTRIC cars are the winners at the Glasgow-based fleet management and leasing specialist, Fleet Alliance.
EVs have hit a record market share in the order banks with Elon Musk’s Tesla Model 3 and Model Y topping the charts.
Fleet Alliance says that In the first five months of 2024, 77% of orders have been electric vehicles (EVs) (42%) and hybrids (HEV) (35%), the highest market share for both model types to date as more employees have realised the twin benefits of saving tax and saving the planet.
“There is little surprise that EVs dominate our order books,” says Fleet Alliance CEO, Andy Bruce, “as they combine advantageous tax breaks with a sustainable solution for fleet managers, whether as company cars or through EV salary sacrifice provision.”
Top 10 Electric Cars Year To Date
1 Tesla Model 3
2 Tesla Model Y
3 MG4
4 BMW i4
5 Audi Q4
6 Mercedes-Benz EQA
7 Cupra Born
8 Mercedes-Benz EQB
9 Skoda Enyaq
10 Polestar 2
Source: Fleet Alliance
Tesla Model 3
Topping the 2024 Fleet Alliance charts is the latest Model 3 saloon from Tesla, which has had an update aimed at better efficiency, comfort and more user features, while changes to the aerodynamics have meant that, while the motors and battery stay the same, it is 8% more efficient, offering up to 390 miles between charges.
Tesla Model Y
In second place is the Model Y, last year’s favourite with Fleet Alliance customers, when it was also the best-selling EV in Europe. A family-friendly SUV, the Model Y is taller than the Model 3 but with the same long range and performance potential.
“Tesla has been the outstanding electric car brand for a number of years and offers a number of Benefit in Kind tax and cost advantages which really appeal to our customers,” commented Andy Bruce.
And he compared the BIK tax bills for a Model 3 with a comparable Audi 3 to underline the tax savings available.
“A petrol-powered Audi A3 saloon 35 TFSI Black Edition 150PS S Tronic costing £35,570 and emitting 132g/km of CO2 falls into the 31% tax band based on its emissions.
“That means a driver pays tax on 31% of the car’s taxable value of £35,570, which equates to £11,027. As a result, a 20% taxpayer incurs a £2,205 annual tax bill and a higher-rate taxpayer double that.
“However, a Tesla Model 3 saloon RWD 4dr auto costing £42,935 would have a taxable value based on only 2% of its price, which comes to £859. Therefore, a 20% taxpayer would pay just £172 annually, £2,033 less each year than the Audi.
“Over a four-year replacement cycle, the tax savings for the Tesla driver total thousands of pounds, which we are certain is a powerful incentive to consider switching to the Tesla brand,” he said.
MG4
In third place in the Fleet Alliance electric order banks is the Chinese-owned, MG4, which shows how far this famous brand has recovered in recent years. The award-winning model offers a very healthy range for its class with over 300 electric miles depending on the version. It can take a fast charge too: from 10 – 80% in as little as 35 minutes.
BMW i4
In fourth place is the BMW i4 five-door hatchback with two power versions. The 335bhp xDrive 40 offers one electric motor and rear-wheel drive while the top-performing 536bhp M50 is powered by twin electric motors and four-wheel drive. Both have an official range of over 300 miles.
The BMW i4, was followed in the Fleet Alliance order banks by the Audi Q4, Mercedes EQA, Cupra Born, Mercedes EQB, Skoda Enyaq and Polestar 2.
“You can see from our top 10 that there are now electric cars to meet all tastes and budgets,” said Andy Bruce.
“Given the wide choice available, we believe there has never been a better time for SME fleets to offer their staff the opportunity to take advantage of the benefits that exist on electric cars, be that through a company car scheme or salary sacrifice.
“Our customers certainly agree and our forward order banks clearly prove that this is the case,” he added.
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