Average new UK electric car price is now lower than petrol vehicles
Summary
The average price of new electric cars in the UK is now lower than that of new petrol cars for the first time. This change is due to discounts, government grants, and increased competition, making electric vehicles more affordable upfront as well as cheaper to run.Key Facts
- The average price of a new electric car listed was £42,620, which is £785 less than a new petrol car at £43,405.
- Electric car prices were pushed down by a government grant of up to £3,750 introduced last summer.
- Electric car sales made up 22% of new car sales in the UK in the first quarter of the year.
- Car manufacturers have been offering large discounts to meet zero emission vehicle (ZEV) targets.
- Competition from Chinese electric car makers has helped reduce prices.
- Rising petrol and diesel prices, partly due to the war in Iran, have increased interest in electric vehicles.
- Despite progress, challenges remain such as limited public charging stations for people without driveways.
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