electric car targets, USA News: The boss of Renault has told GB News that the residual value of electric cars in the UK is being impacted by EV targets, as millions of drivers prepare to transition away from petrol and diesel vehicles. Fabrice Cambolive, Chief Growth Officer of Renault Group, spoke to GB News about the difference between the UK and France when it comes to the uptake of EVs. He outlined that France had been quite consistent when it comes to regulations surrounding electric cars and the phase-out of polluting vehicles. Mr Cambolive, who is also the CEO of Renault Group, said France has had established incentives in place for motorists, while also ensuring that a trajectory for uptake was quite clear based on demand incentives.
Data from the European Automobile Manufacturers Association shows that France has registered 387,342 new electric vehicles between January and September this year. This is a huge 79 per cent difference compared to 2025, while new petrol and diesel car sales have fallen 36 per cent and 50 per cent, respectively. The UK has registered around 455,000 electric vehicles this year, according to the Society of Motor Manufacturers and Traders, but petrol and diesel sales are not declining as quickly as in other nations. More than 720,000 petrol vehicles have been sold in the UK this year, falling just four per cent compared to the previous year, while diesel sales are down seven per cent to 77,683 new cars.
While the UK Government reintroduced a grant scheme for electric vehicles in July last year, many have criticised Labour for sending mixed messages about the uptake of EVs. At a time when almost £2billion was being provided for the Electric Car Grant, the Government announced the creation of Electric Vehicle Excise Duty. This will see electric vehicle drivers pay 3p for every mile they drive, while hybrid car owners will face a charge of 1.5p per mile from April 2028. Experts have argued that this will hamper uptake of EVs as drivers stick with their petrol and diesel vehicles to avoid additional taxes.
Renault Comparison Between UK and France
Mr Cambolive told GB News that France versus the UK demonstrates a higher residual value for electric cars because in the UK, the residual value of an EV has been a little destroyed by the ZEV mandate. He suggested there is something to learn in this capacity regarding providing incentives without going too far or destroying the residual value of the car. The Zero Emission Vehicle mandate currently states that 80 per cent of all new car sales will be electric by the end of the decade, before reaching 100 per cent in 2035. Labour is currently analysing responses to a consultation that looked to weaken ZEV mandate targets to as little as 50 per cent by 2030.
Mr Cambolive added that hybrid vehicles remain practical for consumers who cannot plug in at home, noting that Renault’s objective for 2030 is to be 50 per cent BEV and 50 per cent hybrid. At present, the sale of new petrol and diesel cars will be banned from 2030, while the sale of all non-zero-emission vehicles will be outlawed five years later.
