The best electric cars to lease in 2024
In November 2023, electric vehicles accounted for 15.3% of all new car registrations in the UK, and 24,359 new electric cars were registered. By the end of November 2023, there were approximately 950,000 fully electric cars on UK roads. All of these statistics show the growth of electric cars in 2023, which is expected to continue into 2024. Looking back, the progress is undeniable; in 2016, electric vehicles constituted a mere 0.4% of new vehicle registrations, soaring to an impressive 16.6% by 2022. The International Energy Agency (IEA) reported substantial growth in electric car sales during Q1 2023 compared to the same period in 2022, signifying a thriving market. Notably, Europe anticipates a 40% surge in EV market share in 2024 which only solidifies the anticipation of the upcoming year!
The number of fully electric vehicles on UK roads is predicted to reach 1 million this month, and while Tesla may have lost its crown as the top-selling EV manufacturer in the world to BYD last month, its dominance of the UK market looks set to continue.
This graph shows the market share for all plug-in cars, BEVs (battery) and PHEV (plug-in hybrid), from 2019 to November 2023. This reinforces the rise in popularity for electric cars during this period.
At The Electric Car Scheme, our goal is to make driving electric accessible to as many people as possible without the burden of high costs. In our collective pursuit of a net-zero future, individuals face barriers such as limited information, restricted access, high pricing, and complexity, which hinder global progress. By offering The Electric Car Scheme as an employee benefit, every UK company holds the power to empower its employees to make positive environmental choices. This scheme enables employees to save up to 60% on their new electric cars, making it the most affordable pathway to transition to electric vehicles.
As the year draws to a close and a new one begins, it's natural for us to reflect on the highlights of 2023 at The Electric Car Scheme. We have compiled the most popular cars to salary sacrifice from the past year along with our predictions for the anticipated favourites for 2024.
The most popular electric cars to salary sacrifice in 2023
Tesla Model Y
The Tesla Model Y secures the top spot in our leaderboard. By the end of 2023, it was anticipated to become Europe’s most registered new vehicle, with over 209,000 units registered between January and October 2023. This model dominated sales, holding the position of the top-selling vehicle in Q1, Q2, and Q3. Boasting a WLTP range of 331 miles, the Model Y accelerates from zero to 60 mph in just 3.5 seconds. Its popularity stems from its superior driving dynamics compared to most competitors, attributed to solid handling qualities and rapid acceleration. Featuring an all-wheel-drive dual motor, it operates with two ultra-responsive, independent electric motors governing torque distribution to the front and rear wheels, enabling adaptability in various conditions such as rain, snow, mud, and off-road terrains through its traction control. The Tesla Model Y offers three distinct specifications: Performance, Long Range AWD, and Rear-Wheel drive.
The Tesla Model Y is available to salary sacrifice at The Electric Car Scheme right now! As you can see, the monthly lease price is £762 but salary sacrifice allows you to save £320 every month in income tax and national insurance savings. This means you could save £485 every month.
BMW i4
The runner-up of the most popular electric car to salary sacrifice was the BMW i4. You can choose between three different specifications: Comfort, Technology, and Ultimate. The usable battery capacity of the i4 is 80.7kWh, which means it has a range of 366 miles and can accelerate from zero to 60mph in 6 seconds. This car thrives on the motorway—the quiet cabin is impressive at high speed—making it perfect for longer drives. However, like most electric cars, the BMW i4 is heavy, so small, windy roads can be a challenge.
MG4
Number three in our lineup is MG’s first fully electric hatchback car with up to 323 WTLP electric range. There are five models to choose from: SE, SE Long Range, Trophy and Trophy Long Range. The standard range base, SE, has a 50.8kWh battery and 218 miles of range. For an extra £2,500 you could have the SE Long Range which has a 61.7kWh battery and 218 WTLP miles of range. Top Gear gave the MG4 a very positive review, “the MG4 brings range, equipment, zippy dynamics and style to the small electric car party. Why spend more on something else?” Which is possibly why this car is so high on our list.
The monthly gross cost of the MG4 is £397 but due to salary sacrifice savings, this car could be yours for £256 per month. You will have to pay a small fee for the benefit-in-kind tax, but this is only £26 each month. You can read more about BIK tax in our dedicated guide.
Tesla Model 3
It’ll come as no surprise that the Tesla Model 3 is next on the list. The Tesla Model 3 is available in Rear-Wheel Drive, which boasts a range of 344 miles, can accelerate from 0-60mph in 5.8 seconds and can charge up to 175 miles in 15 minutes. It is also available in Long Range AWD which has a breathtaking range of 421 miles, can accelerate from 0-60mph in 4.2 seconds and has a dual motor all-wheel drive. You can learn more about the Tesla Model 3 highland in our post: 2024 Tesla Model 3 facelift - the best electric car to salary sacrifice?
A Rear-Wheel drive Model 3 could set you back £39,990 if you were to buy it outright. If you choose to salary sacrifice it, you could pay £442 per month. Choosing this option could save you £9,237 over three years compared to the standard lease cost.
Audi Q4 e-tron
The Audi Q4 e-tron is a compact, family SUV. There are three versions available; the 30, 40 and 50. The Audi Q4 e-tron and the Q4 Sportback e-tron are both available with the same batteries and same motors - even the trim levels are identical between the two.
| Version | Battery capacity (kWh) | Range (miles) | Acceleration (0-60mph) |
|---|---|---|---|
| 30 | 52kWh | 208 miles | 9.0 seconds |
| 40 | 77kWh | 323 miles | 8.5 seconds |
| 50 | 77kWh | 298 miles | 6.2 seconds |
You have a range of different modes to choose from to suit your individual driving style and can choose from efficient, dynamic, comfort, automatic or individual. Inside, the driver has touch-screen controls on the steering wheel along with a spacious cabin and up to 520 litres of luggage space.
Cupra Born
The Cupra Born is an electric family hatchback with a maximum range of 335 miles, it has been branded an alternative to the Hyundai Ioniq 5 and the Volkswagen ID3. This car can charge at up to 170kW which means a DC rapid charger will increase your capacity from 10% to 80% in 30 minutes. You have the choice between the Cupra Born V1, V2 or V3 - there is roughly a £2,000 increase at every level. There is no difference in battery size from the V1 to V2, both have a 58kWh battery, paying more for the V2 means you will get everything you get in a V1 car but with 19-inch alloys, heated seats and a head-up display. The Cupra born is slightly sporty, which means its fun to drive in towns and on the motorway
Employees can pay £361 per month for a Cupra Born, saving 37% compared to leasing the car yourself.
KIA EV6
The KIA EV6 was the 2023 CarWow Buy it Award Winner. It has a firm suspension and regenerative braking means the car slows down before you have even touched the brake - you can readjust the braking strength easily behind the steering wheel. The EV6 has light steering and smooth controls, making it easy to drive in any condition. All EV6s have a 77.4kWh battery pack and the Rear-wheel model has a range of 310 miles. A cool feature of the EV6 is that it can power household items, like kettles or microwaves, or even another EV.
Skoda Enyaq
Number eight on our list is the Skoda Enyaq, an all-electric SUV, and it is available at The Electric Car Scheme as a Coupe, iV Coupe and Estate. Focussing on the Skoda Enyaq Coupe; this is available in the Rear-Wheel Drive Edition trim, which has an official range of 353 miles, or the All-Wheel Drive Sportline Plus, which has an official figure of 332 miles when fully charged. The Coupe is quiet to drive on motorways, comfortable to drive and regenerative braking makes it easy to drive around smaller towns.
A Skoda Enyaq will cost £425 per month with The Electric Car Scheme. This would save you £8,176 compared to the standard lease cost. You can use our quote tool to see how much you could save on any car.
Audi Q8 e-tron
Another e-tron has entered the top 10 most popular electric cars to salary sacrifice in 2023. An interesting fact about this car is that it was built in the Audi Brussels factory, which has been awarded a certification for CO2-neutral production. Two electric motors provide all-wheel drive and up to 402 horsepower and 414 pound-feet of torque. There are two body styles to choose from: the standard Q8 e-tron and the sportier, Q8 e-tron Sportback. The Q8’s 106.0kWh battery means it provides up to 285 miles of range (the Sportback goes even faster with 300 miles per charge), which gives drivers the comfort of long journeys without hassle.
Polestar 2
The Polestar 2 has a range of up to 406 miles, accelerate from 0-60mph in 4 seconds and can power up to 469 horsepower. There are 4 different battery and motor combinations available for the Polestar 2, including the Long-Range version which can travel up to 406 miles. The Single Motor can do 0-60mph in six seconds and the Dual Motor can achieve this in 4.3 seconds. It comfortably fits five adults and has a 405 litre boot as well as a 41 litre space under the bonnet to store the charge cables. The infotainment is very simple to use and has Google built in - most of the time you will not need to even connect your phone because it is so easy to use.
With salary sacrifice schemes, you could save £314 per month on income tax and national insurance savings. You do have to pay towards benefit-in-kind tax each month, and you can read more about how it works in our dedicated blog post here.
How does electric car salary sacrifice actually work?
We have given you the breakdown of how salary sacrifice savings look for each of the cars in our top ten, but you may be wondering how saving 60% on an electric car is actually possible.
Salary sacrifice is a good way for companies to provide their employees with a benefit without taking on the cost. In the case of electric car salary sacrifice, the business provides the car for the employee who sacrifices part of their salary to cover the cost of the car.
Unlike traditional car leases, where payments come from net pay (post-tax income), salary sacrifice deducts expenses from the gross salary (pre-tax income). This tax-efficient approach enables employees to maximise their savings.
How does it work for employees?
The Electric Car Scheme is very similar to the Cycle to Work Scheme but for electric cars. We make it easy for employees to unlock government tax incentives - all you have to do is choose the car you want and add on any extras you may need.
Our access to top leasing companies means you can access the best prices available on a brand new EV. You can bundle your insurance or home charging in with the monthly cost if you wish, to make the switch even easier. We also include maintenance, servicing, MOT, breakdown cover and tyre replacements as part of our all-inclusive offering.
You can learn more about how the scheme works specifically for employees by visiting our dedicated page on our website.
How does it work for employers?
Employers choose The Electric Car Scheme to offer as an employee benefit for a number of reasons -
Trusted 5* Service - we have thousands of customers who have rated us 5* on Trustpilot, so you can rest assured that you’re in safe hands!
No Cost - with no set up or running costs, our fee is equivalent to your employer’s tax savings, so you can roll out the scheme at no cost to your business.
Best prices available - at The Electric Car Scheme, we have access to the top leasing companies to ensure your employees get the best prices available. The best prices are needed to ensure you get good employee interest.
Complete Risk Protection - towards the end of 2023 we launched Complete Risk Protection, to provide market leading protection from day one. This was designed to safe guard employers from any unexpected costs if any electric cars need to be returned early.
Our predictions for the most popular electric cars in 2024
While demand for Electric Vehicles in the UK is undoubtedly high, and many are looking forward to picking up their first EV in 2024, there is plenty of work still to do to encourage mass uptake. A point backed up by the fact that the overall share of EVs sold in 2023 was unmoved from 2022 at around 16% (although the overall numbers of EVs sold increased).
Our knowledgeable Electric Vehicle Specialist team has pulled together their predictions for the most popular cars 2024. Some of which are already released.
Tesla Model 3 Highland
The Tesla Model 3 Highland is the latest addition to the Model 3 lineup, and it promises to set new standards in the world of electric vehicles. Tesla has left no stone unturned when it comes to enhancing the performance and efficiency of the refreshed Model 3 Highland. It has an increased range, aerodynamic advancements and enhanced interior features. These features include: a streamlined steering column, ventilated front seats, enhanced sound system and improved Bluetooth and Wi-Fi.
The Tesla Model 3 Highland is available to salary sacrifice at The Electric Car Scheme in Long Range AWD and in Rear Wheel Drive. The Long Range AWD offers a WLTP range of 390 miles, a top speed of 125 mph and can go from 0 to 60mph in 4.2 seconds.
This image is sourced from Hansshow
You can learn more about the Tesla Model 3 Highland in our dedicated blog post.
BMW i4 2024
The BMW i4 2024 is said to have a maximum range of 307 miles (WTLP) with standard 18-inch wheels. You can choose from the eDrive35, eDrive40 or eDrive40 - all of which come with different price tags. The i4 has good DC-fast charging capabilities with charging speeds of up to 200kW. You can see the difference between specifications in the table below.
| Model | Battery capacity (kWh) | Horsepower | Acceleration (0-60mph) | Range (miles) |
|---|---|---|---|---|
| eDrive35 | 70.2kWh | 282 hp | 5.8 seconds | 276 miles |
| eDrive40 | 83.9kWh | 335 hp | 5.4 seconds | 301 miles |
| xDrive40 | 76.6kWh | 396 hp | 4.9 seconds | 307 miles |
According to Car and Driver, the i4 makes for “a comfy daily driver with excellent performance when the right pedal asks for it.” The main changes to the BMW i4 include, an improved range, changes in pricing and it now consists of four versions, each available with two different wheel sizes.
This image is sourced from MotorTrend
The 2024 BMW i4 has already been released in the US and will be released in the UK in early 2024.
Tesla Model Y Facelift
Production on the Tesla Model Y electric SUV “may start as soon as mid-2024” and is expected to feature an updated exterior, interior and specifications. According to Top Electric SUV, it is likely to launch in the US towards the end of 2024 and could be priced at $45,000 which equates to £35,412.
It is predicted that the Tesla Model Y Facelift will go on sale sometime in 2024. Predictions include changes to the front of the car - making it look sleeker - more choices of colour and new in-car features. Drawing from the 2023 Tesla Model 3 facelift, it's likely that the anticipated alterations to the Model Y won't deviate significantly.
This image is sourced from Teslarati
Predictions include:
Adaptive headlights in European markets - when making a turn, adaptive headlights automatically turn based on the steering angle.
Active hood - If a vehicle collides with a pedestrian, the rear part of the hoot may automatically raise by 80mm, reducing the likelihood of pedestrian injuries.
New wrap options
Revised headlights and taillights
Aerodynamically optimised bodywork for improved range
Re-vamped interior - including dashboard and updated in-car features
The current Tesla Model Y is available at The Electric Car Scheme - visit our quote tool to explore the cars available based on your salary.
Volvo EX30
The Volvo EX30’s tagline is: “big electric performance in a small package” and based on the reviews, it lives up to that.
It boasts up to 275 miles of electric range and can accelerate from 0 to 60mph in 3.4 seconds. It will also take 26.5 minutes to charge from 10% to 80% using a DC fast charger. Currently, there are several specifications to choose from, from single motor to twin motor performance ultra, depending on your needs and wants. It is the smallest SUV in Volvo’s line-up, it is practical but also comfortable - making it an extremely appealing car. “There is a small amount of wind and tyre noise at high speeds but around town, it is easy to drive” which is expected at the price point.
This image is sourced from FleetWorld
The Volvo EX30 is available to salary sacrifice at The Electric Car Scheme for as little as £387 per month. Input your salary and see how much you can save.
2024 Polestar 2
The 2024 Polestar 2 has gained better features, range and horsepower than the 2023 model. It is available in Long Range RWD, Long Range AWD and Long Range with a performance pack. The 2024 model has a larger battery and updated hardware — the previously single-motor front-wheel drive Polestar 2 is now rear-wheel drive and has an additional 30 miles.
This image is sourced from Automotive News Europe
The price of the 2024 Polestar 2 starts at $51,300 (£40,306) and goes up to $64,400 (£50,598). The performance pack specification has 499 maximum horsepower for acceleration, an estimated range of 247 miles and comes with 20-inch - this pack caters to enthusiasts and perhaps not the everyday driver. The single motor has an estimated range of 320 miles with 19-inch wheels. Inside, the materials are very interesting, combining wood, fabric, and plastic, achieving a simplistic yet artistic design. Sporting a modern look characterised by sleek lines, a restrained colour palette, and minimal switchgear, it exudes a contemporary and minimalist aesthetic.
The 2024 Polestar 2 was released in August 2023 and can be viewed on our quote tool.
Encouraging EV adoption in 2024
Thom Groot, co-founder of The Electric Car Scheme, discusses how the government can encourage mass adoption of EVs in 2024:
“The price of EVs must drop dramatically. Mass adoption during a cost of living crisis will be impossible if fossil fuel cars remain so much cheaper to initially buy - and our research suggests that even younger generations very worried about climate change won’t pay more than 29.8%. Thankfully there are already signs of this happening: A whole host of manufacturers in China are building cheap and reliable electric cars, and the second-hand market of cars that are currently in the leasing or fleet market is starting to boom. The UK Government must be open to these cheaper cars from overseas entering our market.”
We are very excited to see what 2024 holds for the adoption of electric cars in the UK and look forward to seeing how The Electric Car Scheme grows over the next year!
That was our roundup of the most popular cars of 2023 and what we think the most popular cars will be in 2024! There is no time like the present to make the switch to electric (or even upgrade if you’re already driving electric). The Electric Car Scheme allows employers to offer a cost-neutral benefit that gives employees access to the most affordable way to switch to an electric car. If you want to learn more about how it works for employers, you can visit our website.
Our pricing is based on data collected from The Electric Car Scheme quote tool. All final pricing is inclusive of VAT. All prices above are based on the following lease terms; 10,000 miles pa, 36 months, and are inclusive of Maintenance and Breakdown Cover. The Electric Car Scheme’s terms and conditions apply. All deals are subject to credit approval and availability. All deals are subject to excess mileage and damage charges. Prices are calculated based on the following tax saving assumptions; England & Wales, 40% tax rate. The above prices were calculated using a flat payment profile. The Electric Car Scheme Limited provides services for the administration of your salary sacrifice employee benefits. The Electric Car Scheme Holdings Limited is a member of the BVRLA (10608), is authorised and regulated by the FCA under FRN 968270, is an Appointed Representative of Marshall Management Services Ltd under FRN 667174, and is a credit broker and not a lender or insurance provider.
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