Chancellor
Rachel Reeves announced at the end of October that drivers of new petrol, diesel and hybrid vehicles would be hit with higher first-year tax rates. The move aims to incentivise consumers to opt for electric vehicles and widen the gap between 'higher polluting' vehicles and EVs
The first-year tax figure is determined based on the amount of carbon dioxide the vehicle emits.
Electric vehicle (EV) drivers currently enjoy no Vehicle Excise Duty (VED) costs, but things are about to change. From April, EV owners will have to fork out a modest £10 for their first year's VED, a recently frozen rate.
Owners of petrol, diesel, and hybrid vehicles, meanwhile, are preparing for a dramatic increase with rates expected to double. A Treasury spokesperson told Car Dealer Magazine that conventional cars' VED rates might just double come 2025.
For instance, if you're eyeing up a new Ford Puma, by April 2025, you could be shelling out £440 in the first-year VED instead of today's £220. Luxury vehicle enthusiasts looking at options like a Range Rover will face a drastic jump from a £2,745 fee right up to a staggering £5,490.
https://www.mirror.co.uk/money/full-list-60-cars-24-34752938