71% of consumers are considering an electric car as their next vehicle

According to a report from Auto Trader, 71% of consumers are considering an electric vehicle (EV) for their next car – a significantly higher percentage than in 2017 when it was 25%.

In terms of time-frames, 50% of car owners who don’t currently own an Alternative Fuel Vehicle (AFV) expect to do so within the next three years.

When will electric cars become affordable?

Although electric cars are cheaper to run and maintain, a new one will in most cases cost more than a petrol/diesel alternative of a similar specification.

For example, a new fully-electric Renault Zoe costs £21,290 whereas a diesel Renault Clio is £15,695. Even with the UK’s Plug-in car grant which offers up to £3,500 off a new EV, that still leaves a gap of just over £2,000.

However, the daily running costs of an EV over a petrol or diesel are certainly an eye opener.

Journey cost comparison: Electric vs Diesel

To give an insight into the difference in running costs between an electric and diesel car, the table below shows possible savings based on 10,000 annual miles. It’s worth noting that this data is assuming that you’re charging your car at home, at a cost of 15p per kWh – and that diesel is 130.7p.

RENAULT Zoe	RENAULT Clio
Drivetrain
Electric	Diesel
Cost per mile
4.4p	12.2p
Total annual fuel costs for your journey
£530	£1,464

 

Range anxiety

When people are asked what is holding them back from making the decision to buy an EV, range anxiety is a common answer.

It’s a valid concern for consumers to have, it will certainly be many years until we see charging points as often as we see fuel pumps.

However, according to KPMG current EV ranges are capable of making 99.3% of UK journeys. But until consumers see more electric vehicle charging points then we can expect range anxiety to be a factor for quite some time.