Politics pushing prices
Welcome to the fourteenth edition of the newsletter! It is great to have you with us. We appreciate your continued support of Autofolio. Thank you for being a valued part of our community. In this week’s newsletter, we look into what the impact could be for the UK car market following a recent change in government. Looking into different segments of the market and how each could be affected.
Labour made several automotive pledges as part of its election campaign, including promising to reinstate the 2030 ban on the sale of new combustion engine cars, tackling insurance premiums, introducing a battery health standard for used EVs and aiding the construction of new battery factories.
Starmer also pledged to increase the roll-out of EV chargers and mend Britain’s crumbling roads. “Rebuilding Britain means modernising our transport infrastructure,” he wrote in the party’s manifesto.
IF (a big if…) these Labour Party pledges do occur this is the impact it could have on different segments of the market.
Collectable Cars
Reinstating the 2030 ban on combustion engine cars will support and drive the valuation of collectable large engine capacity cars with examples becoming rarer due to fewer now being produced and collectors and investors having to buy cars on the used market.
Electric Cars
With improved electric infrastructure it will support new sales of electric cars and valuations in the used electric market.
Battery health standards will have a significant positive impact on EV owners both from a usability and valuation perspective.
Restating the 2030 ban will increase demand in the market with more individuals being forced to switch to EV ownership.
Classic Cars
These manifesto pledges are likely to have minimal impact on the classic cars market. Due to current classic car owners being unlikely to replace their classic’s space in their garage for an EV.
Overall View
Overall if the Labour government does achieve its manifesto pledges it will have an positive impact on the collectable car market and cars from an investment perspective. Due to the production of solely combustion-engined large-capacity cars becoming fewer. With demand remaining high for modern classic and ‘last of a era’ cars this will further drive the values for these cars up.
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