EV upfront cost difference compared with petrol cars drops from 33% to 19% in a year: comment

"As all new technologies mature, and sales increase, economies of scale kick in and prices come down. That’s exactly what we’re seeing with electric vehicles in the UK. The day of EVs being playthings of the wealthy are long gone - they are already delivering savings of hundreds, even thousands, of pounds a year in ownership costs to households across the country - savings that are just going to get better and better as upfront sticker prices continue to fall. 
 
"While price parity approaches for new EVs, it has already been reached on the second-hand market [2]- where most of us buy our cars. Second hand EVs can deliver annual savings in ownership costs of £1600 a year, which can be enjoyed the moment drivers get their hands on the keys. [3] 
 
"The Government’s ZEV mandate is helping consumer demand for EVs be met by incentivising manufacturers to reduce prices as they compete to hit their EV sales targets. However, the Government’s recent weakening of the mandate will undermine this dynamic, instead encouraging the sale of more plug-in hybrids vehicles - at the expense of EVs - even though they cost their owners 350% more to fuel than their manufacturers claim. Slowing the growth in EV sales could slow the fall in EV prices; slow the growth of the second-hand market; and keep people stuck driving dirtier and more expensive petrol and hybrid vehicles for longer”.