Autotrader says new EVs cheaper than new petrols for second month running: comment

Responding to news from Autotrader that new EVs are, on average, cheaper than new petrol cars for the second month running and that, for the first time ever, electric was the most popular fuel type for new cars on its platform, accounting for 29% of all new car enquiries [1], Colin Walker, Head of Transport at the Energy and Climate Intelligence Unit (ECIU), said: “Just like second hand EVs, new EVs are no longer any more expensive to buy than their petrol equivalents. One of the main barriers holding people back from making the switch to electric driving has been removed, at the very moment that we’re seeing a surge of interest in EVs on the back of rising petrol prices driven by conflict in the Middle East. Is it any wonder that new EV sales surged by 59% in April [2], as drivers vote with their feet and make the move to vehicles that can save them hundreds, if not thousands, of pounds a year in owning and running costs. [3]

"This is all happening in the run-up to a planned review of the UK's EV sales targets, with parts of the industry lobbying for them to be weakened. Upholding these targets will maintain competition between manufacturers and keep driving down prices, supporting the uptake of new EVs. This will help British drivers protect themselves from shocks in global oil markets, and help the UK improve its energy security by reducing its dependence on foreign oil imports"

ENDS

Notes to editors:

1. Autotrader: https://plc.autotrader.co.uk/news-views/press-releases/electric-most-popular-fuel-type-as-ev-fuel-cost-savings-highest-since-records-began-amid-petrol-price-spike/

2. SMMT: https://www.smmt.co.uk/two-millionth-electric-car-registered-as-market-rebounds-strongly-from-tax-changes/ 

3. ECIU: https://eciu.net/media/press-releases/ev-charging-costs-coming-down-as-petrol-prices-go-up 

For more information or for interview requests:

George Smeeton, Head of Communications, ECIU, t: 020 8156 5305, m: 07894 571 153, email: george.smeeton@eciu.net