More than a third of UK car buyers ‘abandon’ EV plans due to cost concerns – survey
Some 42 per cent of those already in the market for a new car have already decided against going electric for cost reasons.
More than a third of drivers who purchased a new car recently considered an electric vehicle but opted for a petrol, diesel or hybrid instead due to rising costs.
That’s according to a new survey by What Car, which found that 42 per cent of people who are currently in the market for a new car have sidelined an EV for the same reason. Due to financial concerns, more than 58 per cent of respondents are delaying their next car purchase by six months or more, while those who really need to buy are switching to a more affordable second-hand model.
Steve Huntingford, editor of What Car, which conducted the survey of 2,525 people, said: “Our latest research shows that concerns around the cost of purchasing and running an EV are at the forefront of motorists’ minds.
“However, the good news is that car makers are responding, with our research showing discounts on EV models have increased by more than 200 per cent since the beginning of the year.”
Of the 39 per cent of in-market buyers who are now looking to purchase a used car, 30 per cent say that their decision to buy a used car – instead of a new one – has been influenced by the rising cost of living.
Huntingford added: “With the introduction of the Government’s Zero Emission Vehicle (ZEV) mandate from January 2024 meaning manufacturers have to ensure 22 per cent of their new car sales are electric, we expect to see even more generous discounts.
“Conversely, motorists can expect to see smaller discounts – and less choice – when it comes to petrol and diesel models, as car manufacturers get to grips with the new requirements.”
