Electric car prices fall below petrol models
New electric car prices have dropped below petrol models for the first time, according to the latest data from Auto Trader.
Based on adverts on its platform, it has found that the average price for an electric car is £42,620 compared with £43,405 for a new petrol model.
Lower electric prices are still being driven by large discounts, which reduced from a record 12.8% in March to 11.7% in April.
In terms of manufacturers, the MG is the most in-demand electric car brand so far in April, accounting for 11.7% of all enquiries, followed by Renault (7.5%) and Kia (5.9%).
However, the most popular model was the Renault 5 E‑Tech Electric with 6.4% of all enquiries, ahead of Jaecoo 5 (3.4%) and MG S5 (3.1%).
Increasingly competitive
Bex Kennett, performance director at Auto Trader, said: “The electric car market is becoming increasingly competitive, and despite the challenges created by the ZEV Mandate, manufacturers and retailers have worked hard to improve both the supply and affordability of new electric vehicles.
“Support such as the government’s Electric Car Grant, alongside historically high levels of discounting earlier this year, has brought EV prices to a point where they are now, on average, cheaper than petrol cars.
“At the same time, broader geopolitical uncertainty has pushed fuel costs and energy security back to the front of buyers’ minds, driving a noticeable uptick in interest in both new and used electric cars on our marketplace.
“While past spikes in EVs haven’t always translated into sustained purchasing, this combination of improved affordability and shifting attitudes towards the cars, presents a real opportunity to accelerate the switch to electric.”
