Nothing good, I’ll bet…
Well, actually that’s not the case as there was some good news in the Budget. Or at least some not-getting-worse news.
Minister for Finance Simon Harris confirmed that the relief of Vehicle Registration Tax (VRT) for electric cars will be continued for at least another two years, up to 31 December 2028.
That means new electric car prices will, effectively, continue to be discounted by the government, and that’s worth up to €5,000 for some cars, as long as their new price doesn’t exceed €50,000.
OK, that is good…
There’s more. The recent cuts to fuel excise duty — an attempt to ameliorate the worst of the rises in petrol and diesel prices since Trump started his war with Iran — will be held in place until at least 28 February next year.
After that excise rates will be steadily increased again up to the end of June 2027, assuming that the international situation doesn’t get any worse between now and then.
There must be some bad news…
There is. While the VRT rebate is being kept in place for electric vehicles, VRT rates are going up by one per cent in all but the lowest two bands.
That means any car with CO2 emissions higher than 80g/km will see an increase in price.
I knew it! Disaster!
Well, maybe not quite. While this move will affect something like eight out of the top ten selling cars in Ireland, the fact is that fewer and fewer of us are buying cars in those bands, as electric and plug-in hybrid sales increase.
Equally, a one per cent increase means that prices will go up only by around €3-500 for most of the most popular new cars, an increase which could easily be offset by special offers introduced by car makers and dealers.
Anything else?
Nothing else specifically on the motoring front (at least, not until we’ve had a chance to go through the new Finance Bill with a fine-tooth comb) but there is a new €600 grant for home storage batteries which, combined with solar panels and an electric car with bi-directional charging, can give homeowners some interesting options when it comes to both saving money on electricity overall, and ensuring a supply of power to your house when power cuts are happening.
Read our feature, Can you power your house from your EV’s battery? for more on that.
And if you're thinking of buying your first EV, why not enter our competition to win a free Ohme EV charger and installation?
If there is anything about this story we have not covered, you can avail of our expert advice service via the Ask Us Anything page.