Are Electric Cars Becoming Unaffordable?

Over the last few years, electric vehicles (EVs) have really come to the fore as a viable alternative to petrol and diesel cars, but it seems that takeup may now stall in the face of soaring energy prices and a dearth of affordable makes and models.

New research from consumer website Electrifying has found that there are now only seven new EVs for sale in the UK for less than £30,000, compared to petrol or diesel where there are 107 models available for the same amount, Car Dealer Magazine reports.

It was also found that the amount saved on the running of EVs compared to petrol cars has fallen in recent months, in the face of rising energy costs. Meanwhile, petrol prices have now dropped from the record highs seen earlier in the year.

Ginny Buckley, founder and chief executive of Electrifying, explained that although EVs are now well embedded in the car-buying habits of UK drivers, motorists are now paying more to switch from petrol and diesel.

She was quoted by the news source as saying: “The choice of affordable cars is dwindling, and, unless you’re charging on a cheap night-time tariff, you’ll now barely notice the savings. Unless action is taken - and quickly - many hard-working people across the country risk being priced out of the electric revolution.

“If we are to bring everyone along on the journey, we need the government to step in immediately to incentivise drivers to make the switch.”

Generally speaking, benefits of EVs include no congestion charges, lower running costs, cleaner environment, a better driving experience, reduced noise and increased resale value. However, it may be worth waiting if you are in the market for a new car until the cost of living crisis and rising energy costs have both eased somewhat.

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