Lack of affordable options could stall demand for electric vehicles in the UK, according to recent analysis.
A report by consumer website Electrifying.com has found that there are only seven new electric car models on sale in the UK for less than £30,000, compared to 107 available models of petrol or diesel cars in the same price bracket.
This lack of affordable options, added to the rise in electricity costs, has led to a decrease in the amount of money users can save by running an electric car instead of a petrol model, the company concluded.
Electrifying.com founder and chief executive Ginny Buckley said electric cars are “firmly embedded in the UK’s car-buying habits” but warned that drivers are “paying more” to make the switch from petrol and diesel.
“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,” she said. “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.”
The findings are supported by the latest figures from the Society of Motor Manufacturers and Traders, which show a decrease in demand for new pure electric cars. According to the organisation, at the end of August, the year-to-date increase had fallen to 49%.
To address this challenge, Buckley called for the government to approve interest-free loans to purchase used electric cars – such as those available in Scotland – across the rest of the UK.
“We want everyone to be able to make the switch to cleaner, zero-emission cars and latest figures continue to show more people are choosing to go electric,” said a government spokesperson, in response. “The majority of electric vehicles continue to have lower overall running costs than petrol and diesel alternatives, thanks to cheaper charging, lower maintenance costs and tax incentives.
“This is backed by £2.5bn government funding committed since 2020 to help boost charging infrastructure and drive the transition to zero-emission vehicles across the nation.”
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