An expert in London’s taxi fleet industry has voiced concerns over the potential discontinuation of the Plug-in Taxi Grant (PiTG) by March 2024. This grant, significantly reducing new cab prices by £7,500, is crucial for acquiring environmentally friendly taxis.
Despite efforts by organizations like the London Taxi Drivers’ Association (LTDA) to advocate for its continuation, uncertainties persist, especially considering the government’s focus on regional development beyond London.
The expert suggests that with the government’s wavering commitment to net zero targets and the delayed ban on petrol and diesel cars, extending the grant beyond March 2024 might be unlikely. This situation urges taxi drivers to expedite new vehicle purchases to benefit from the grant, potentially saving substantial amounts.
The advice for taxi fleets is to consider advancing their purchase plans, and securing agreements on trade-ins and financing sooner rather than later. There’s uncertainty about whether LEVC, the taxi manufacturer, can meet potential increased demand before the grant’s deadline.
The expert emphasizes the importance of proactive planning, highlighting that once the grant ends, it might not return.
Want more information?
Get in touch with our expert team to give you the best loans on the market and leading advice.
Tel:0208 004 2811
At Carvine, we pride ourselves as a team of impartial vehicle finance experts that will direct you through the easy application process. As a result, our dedicated team put you in control of one of life’s biggest buying decisions. Consequently, we are all you need to finance your vehicle.
Find me on: LinkedIn
- New Initiative Gives The ‘Knowledge’ For Free. - January 23, 2024
- Is the clock ticking on the Plug-in Taxi Grant (PiTG)? - January 5, 2024
- Taxi drivers to get clean air cash for new cars. - December 5, 2023
Add comment