Are UK drivers being priced out of joining the electric revolution?

3 minute read|9th Sep 2022

Over the last decade, there has been an increasing demand for electric cars – as UK drivers look to make the switch from fossil fuel powered vehicles.

However, a report from Electrifying.com has revealed that that there are currently only seven new electric cars on sale in the UK that are available for under £30,000.

With the current energy crisis, and rising bills for millions across the country – this latest development is pricing people out of joining the EV revolution.

The report also highlighted that there are 107 petrol or diesel cars available in the same price bracket. And with the public looking to make savings where they can, those in need of a new vehicle may turn to petrol and diesel alternatives.

Further analysis revealed that the amount of money saved by running an EV has reduced in recent months due to rising energy costs, and with fuel prices finally falling after recent turmoil.

According to the Society of Motor Manufacturers and Traders (SMMT) most recent data, the number of new pure electric cars available to customers in the UK has dipped in recent months.

New registrations of electric vehicles during the first three months of 2022 were 102% more than during the same period last year.

Following the release of the SMMT data, a Government spokesperson commented: “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.

“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 £2.5 billion Government funding committed since 2020 to help boost charging infrastructure and drive the transition to zero-emission vehicles across the nation.”

RAC EV spokesman Simon Williams said: “The cost-of-living crisis, and specifically rocketing energy bills, risk seriously derailing the Government’s net zero transport plans, so we need new policies to be brought forward that make acquiring and running electric cars as affordable as possible.

“It’s not just about the cost of electric vehicles though. In recent months charge point operators have had no choice but to increase their prices as the wholesale price of energy has risen, making it ever more costly to charge up away from home. This also makes it extremely difficult for people who can’t charge at home to be able to go electric as they would have to rely entirely on far more expensive public chargers.

“As founding members of the FairCharge campaign, we urge the Government to cut the illogical 20% VAT rate on public chargepoints to match the 5% charged on domestic electricity – a move that would cost the Treasury little but would help keep charging costs under control and help keep EV take-up moving in the right direction."