EV demand flagging amidst high prices

New research has found that fewer than half of drivers are willing to invest in EVs, with cost and charging limitations still putting them off.

According to Auto Trader research of more than 4,000 drivers, only 47% of respondents would consider an EV now.

It found that only nine models are available for less than £30,000, compared to 87 petrol or diesel models, although the prices of used EVs have come down by 23% in the last year.

Ian Plummer, commercial director at Auto Trader, said: “There is still much more work to be done to achieve a mass transition to electric vehicles before the 2030 ban on new petrol and diesel models and ensure no driver is left behind. Support from the tax system to put the used EV market on a more robust footing is vital for the sustainability of the entire EV market and our chances of successfully transitioning to EVs by 2030.

“Consumers are still worried about affordability and charging, which is why we need a clear statement of intent from the government. Penalising drivers who have to charge in public with higher VAT is simply unfair: we need to end this charging injustice.”