The furore over ticket price hikes for Oasis concerts should teach Government ministers how their interventions can have unintended consequences.
Namely, when there is high demand for a product in limited supply – such as fans wanting to see Noel and Liam Gallagher – prices go up.
Under the Government’s ‘ZEV Mandate’ on zero-emission vehicles, carmakers are told that 22 per cent of cars sold this year must be electric — rising to 80 per cent by 2030 — or they’ll face fines of £15,000 per car.
Mad for it: The furore over ticket price hikes for Oasis concerts should teach Government ministers how their interventions can have unintended consequences
As a result carmakers are now reducing, or rationing, the supply of in-demand petrol and hybrid cars.
Robert Forrester, chief executive of Vertu Motors, said this week: ‘It’s almost as if we can’t supply the cars that people want.’
Renault 5 crowned
Meanwhile, the new all-electric Renault 5 has been crowned world champion in the annual Best Car of the Year awards (bestcarsoftheyear.com).
Ahead of its launch at next month’s Paris Motor Show, it was also named best electric car by an international jury and votes from visitors to the recent British Motor Show at Farnborough where contenders were on display.
CARS & MOTORING: ON TEST
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