Volkswagen Group Launches Own EV Discount Scheme, Cuts Prices on Several Models

Volkswagen Group has launched its own EV discount scheme, "Grant Guarantee," for three of its brands: Volkswagen, Skoda, and Cupra. The scheme offers customer savings of up to £1,500 on select models. Eligible models include the Cupra Born, Skoda Elroq, Enyaq SUV, and Volkswagen ID.3 and ID.4. The scheme is only available for cars ordered between August 1 and August 31 and delivered with the new "75" plate from September 1.

Volkswagen Group has launched a new initiative aimed at accelerating the adoption of electric vehicles (EVs) by offering a £1,500 discount on certain models from its Cupra, Skoda, and Volkswagen brands. This "Grant Guarantee" scheme is designed to provide immediate savings to customers, ahead of the UK Government's planned Electric Car Grant.

The eligible models under the scheme include the Cupra Born, Skoda Enyaq SUV, and Volkswagen ID.3 and ID.4. The discount is available for cars ordered between August 1 and August 31, with delivery expected by September 1, featuring the new "75" plate. The initiative is part of Volkswagen's broader strategy to support the government's push towards greener motoring.

Rod McLeod, director of Volkswagen UK, commented on the introduction of the scheme, stating, "We welcomed the Government’s announcement of its Electric Car Grant and wanted to make sure customers could start benefiting from lower-cost electric motoring as quickly as possible. We have already seen an uplift in enquiries since the Government’s grant was announced, which is great news for Volkswagen’s electrification plans."

The Government's Electric Car Grant, worth up to £3,750, is set to become available later this year. The new scheme from Volkswagen Group aims to bridge the gap between the announcement of the grant and its actual implementation. The grant requires manufacturers to have committed to a verified science-based target (SBT) and have embodied carbon scores below a certain threshold. Vehicles made by manufacturers who have not set an SBT will not be eligible for the scheme [1].

The introduction of this discount scheme is likely to boost sales of electric vehicles, particularly for those brands that meet the sustainability criteria. The UK's plan to reduce emissions and promote greener motoring is expected to benefit significantly from such initiatives. With over £650 million allocated for the Electric Car Grant, the government aims to subsidize around 173,000 electric cars, which could be a significant boost for the industry [2].

For investors and financial professionals, this scheme represents a strategic move by Volkswagen Group to capture a larger share of the growing EV market. The company's proactive approach to offering immediate savings to customers is likely to enhance its brand image and drive market demand for its electric models.

References:
[1] https://www.fleetnews.co.uk/news/volkswagen-group-introduces-1-500-grant-guarantee
[2] https://www.carwow.co.uk/news/9217/electric-car-grant