Which? report shows decade to recoup EV cost is putting people off the switch
Research by consumer champion Which? shows that people are being put off making the switch form ICE to EV – because it takes up to a decade to recoup the cost.
As the State shifts its focus and support for EV motoring, and the UK ban on the sale of new petrol and diesel vehicles from 2030 edges closer, increasing numbers of consumers are being encouraged to switch to electric vehicles – and are doing their own research.
Over 40% are interested in changing to an EV option – but over a third are ‘put off’ by the cost.
Which? analysed the upfront and running cost of owning three vehicles that are available as petrol and electric versions. Its findings showed that despite the potential low-running cost of electric vehicles, it was still significantly more expensive to own the electric version over three years.
Which? concludes that the adoption of electric vehicles is a key component in the ambition to reach net-zero by 2050, however the high cost of emission-free vehicles is deterring consumers.