VRA responds to the Budget
Vehicle Remarketing Association chair Philip Nothard says the Budget's small measures, including the fuel duty freeze and increases in tax-free mileage for the self-employed, should help keep the used car market's buyers upbeat into 2027. He adds that further detail on Electric Vehicle Excise Duty in the Budget document suggests the scheme is still likely to go ahead in 2028, and that news on ZEV Mandate revisions was not expected because the consultation has only just closed. The press release is published below as supplied.
Philip Nothard, chair, Vehicle Remarketing Association, said:
“This was a Budget that largely consisted of small but potentially important measures to help consumers and smaller businesses through the short-to-medium-term economic situation, especially the ongoing effects of the oil crisis.
“In terms of the used car market, this approach will hopefully help maintain a relatively upbeat mood among vehicle buyers, enabling the sector to continue the reasonably strong performance seen so far in 2026 into 2027.
“There were few measures directly affecting motorists, although the freeze in fuel duty should be welcomed, alongside increases in tax-free mileage for the self-employed. Further details about Electric Vehicle Excise Duty are also included in the Budget document, suggesting the scheme remains likely to go ahead in 2028 despite widespread motor industry reservations.
“There was no news about ZEV Mandate revisions, which is to be expected as the consultation only closed in the last few days. This, along with EU negotiations on whether UK-made cars count as European, are probably the most important decisions the government will make this year about the future of our motor industry.”
About the VRA
The Vehicle Remarketing Association was established in 2010 by senior executives from companies involved in all aspects of remarketing used cars which between them handle, sell, inspect, transport or manage more than 1.5 million used vehicles every year.
The key objectives of the VRA are:
- To create better awareness of the activities of professional remarketing
- To raise standards and generate an accepted best practice across the industry for key disciplines like vehicle inspection
- To provide a much-needed voice to represent the sector in the trade and consumer media on issues which affect remarketing suppliers and customers
- To provide an effective focal point through which major matters concerning those involved in remarketing can be addressed
- To raise the profile and professionalism of the industry to ensure recruiting good quality people becomes much easier
- To generate views and opinions of the industry for use in lobbying for the greater good of the remarketing sector
- To create a forum where members can network, exchange views, debate key topics and share best practice
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