A GTA chief says greater regional stability is needed prior to launching EV credit hire scales. Calls to include electric vehicles (EVs) in the General Terms of Agreement (GTA) are growing, but the scheme’s organisers caution that key challenges must first be resolved.
The GTA, a voluntary agreement launched in 1999, standardises credit hire rates for vehicles involved in road traffic accidents. With 1.3 million fully-electric cars on UK roads by October 2024, many argue it’s time to set credit hire rates specifically for EVs.
Zapmap reports that 1.3 million fully-electric cars were on UK roads by October 2024, with a significant rise in demand.
Europcar’s James Roberts highlights the need for EV certainty to support credit hire fleet acquisitions. Roberts also identified the lack of an EV-specific category in the GTA as a major hurdle, causing claims friction and litigation.
The GTA Technical Committee’s Chair, James Driscoll, stresses that regional price disparities must stabilise before EV rates are set.
The GTA reviews market data quarterly, with the next update in December, 2024.
The GTA’s Independent chair, Stewart McCulloch, urges collaboration, noting regional variations and pricing disparities of up to £1000 per day for EV credit hire.
While progress is being made, stakeholders agree that a unified EV rate must reflect market realities to avoid disruption.