EV Targets to Boost UK Combustion-Engine Car Prices, Dealer Says
Used cars for sale near Chatham, UK.
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Prices of new and used combustion-engine cars could rise because of the UK’s targets for phasing in electric vehicles, according to the head of one of the UK’s largest car dealers.
Vertu Motors Plc Chief Executive Officer Robert Forrester said carmakers may be forced to limit supply of gasoline-powered vehicles to meet the new government mandate that a proportion of the cars automakers sell must be fully electric. This will drive up prices for petrol and diesel cars, he predicted.