Electric cars could soon be ‘cheaper’ than petrol and diesel vehicles
GB News guests debate using electric cars
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Electric cars may even be “cheaper” than most petrol and diesel vehicles in the run-up to the 2030 petrol and diesel car ban. Hefty upfront costs for electric models are often considered one of the main reasons preventing further EV adoption.
Richard Falconer, Managing Director of Co Wheels said costs were “bound to decrease” in the next few years.
He added a drop in costs would likely lead to more EVs on the street in great news for drivers.
He said: “The price tag of electric vehicles is bound to decrease significantly in the next few years.
“Between 2025 and 2027, they are expected to cost as much as ‘standard’ petrol and diesel.
“In the years that follow, they will be even cheaper than petrol and diesel vehicles.
“This is great news! Not only will it benefit drivers’ pockets, but more EVs on our streets will do our environment the world of good.”
He added: “With an array of green and financial benefits, electric cars are ultimately the best way forward!”
A poll from consumer watchdog Which? carried out earlier this year found more than one-third of road users were ”put off” by the upfront cost of an electric car.
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Analysis from the group found a fully electric Peugeot-208 was around £5,000 more expensive than its petrol counterpart.
Meanwhile, a Mini EV electric model was around £10,000 more than a petrol-engined Mini One.
However, Which? warned one of the main justifications for their higher price was the cheaper running costs.
The Peugeot e-208 costs around 1,849 to run over three years compared to £4,395 for the petrol model.
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The Mini EV electric costs just over £1,800 over the years, while the Mini One petrol car will set drivers back almost £4,500.
Lisa Barber, Which? Home Products and Service Editor said the affordability of electric cars was a “significant barrier” to more adoption.
She said: “Millions of people are expected to switch to electric cars over the next few years to reduce emissions, however our research shows that affordability is a significant barrier and the upfront cost of purchasing an electric vehicle is putting people off.
“We know consumers want to make more sustainable choices and are open to switching to electric vehicles.
“But more support is needed to ensure they can feasibly make the decision to buy an electric car.”
Fiona Howarth, CEO of Octopus Electric Vehicles has said more electric cars need to be supplied to the UK market to help reduce costs.
She told Express.co.uk: “Any policies that can accelerate the manufacturing of EVs and make them cheaper will help us give customers what they want and save the current onerous wait times.”
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