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Back in 2017 when the Government first stated they would ban the sale of new petrol & diesel only cars from 2040, they didn't state they would allow existing models to carry on being sold. It would be very simple to introduce primary legislation to stop all sales, in the exactly the same way they banned the sale of firearms for example. You could argue it's amazing cars haven't been banned before, seeing as they kill far more people than guns ever did!What may happen is this.
About 3 years before the 'ban', ICE sales will shoot up and manufacturers will have to ramp up production volumes considerably, because people will think they need to replace their ICE cars with ICE before the 'ban'.
About 1 year before the 'ban', every manufacturer will launch a mass of new car models, all freshly homologated. Because no-one has yet realised that you can only 'ban' cars that are not already on sale (legacy terms apply to vehicles homologated for a given emissions requirement) there will then be another round of 'buying the newest ICE'.
It's quite usual for cars of two, or even three, emissions classes to cross over each other in sale. A vehicle already homolgated can continue for sale until the model stops being sold or until the final cutoff date for a given emissions class.
For example, Euro 4 was required from 2005. My diesel van is actually a 2007 model with Euro 3 because it was a run-on model and could still be legally sold.
To implement this ban they cannot do it on emissions legislation. They will have to introduce some new form of primary legislation to make this happen, it cannot simply be by emissions regulations. It will be interesting to see how they can make such definitions of an electric car without referring to its emissions!
(If they come to me and pay be £100,000 for 7 hours of work, I can given them some answers that will deal with that. .. Boris .. just drop me a PM, mate, OK?)