Over a third (36%) of future car buyers say they will not consider an EV for their next vehicle, with almost one in three (29%) from this group citing concerns about higher running costs as a key reason behind this.
That’s according to the second edition of the ‘EV Transition Tracker’, created by Motability Operations – the company that runs the Motability Scheme, connecting disabled drivers to freedom and independence.
When the UK public were asked about specific cost comparisons, 65% said they believe the retail/list price of EVs to be higher than petrol or diesel vehicles.
Half (49%) believed EVs to be more expensive for ‘whole life’ cost, while over a third (35%) believed them to be more expensive for servicing and maintenance, and 1 in 3 (30%) believed EVs to have higher overall running costs.
Too many simply don’t know
Alongside the perception that EVs cost more to run than petrol or diesel vehicles, many drivers remain uncertain about whether an EV could be the right next vehicle for them.
One in five (19%) future car buyers in the UK say they are undecided about choosing an electric car for their next vehicle. Among these, a third (33%) said they didn’t know whether insurance would cost more for an EV or petrol/diesel vehicle, and over a fifth (21%) didn’t know which would see more expensive overall running costs.
EV experience tells another story
However, when current EV drivers across the UK were asked the same questions, they were far more likely to say that driving electric costs less money than driving a petrol or diesel vehicle. Half (51%) of EV drivers in the UK public said that overall running costs were higher for a petrol or diesel vehicle.
The Tracker also revealed that having a home charger further reinforces these positive opinions on financial savings. Among EV drivers on the Motability Scheme, over three quarters (77%) with a dedicated home charger said that a petrol/diesel vehicle costs more to run than an electric vehicle. Similarly, nearly 9 in 10 (88%) said fueling was more expensive for petrol or diesel vehicles.
Andrew Miller, CEO at Motability Operations, said: “It is vital that we do more to provide people with information on the benefits of driving electric. Without the right support, we risk leaving people behind – not because they can’t switch, but because they don’t know it’s a viable option. That’s why we offer our customers access to an EV Cost Calculator, to help them understand whether an EV could work for their needs and budget.”
John S, EV driver on the Motability Scheme, said: “I was sceptical of choosing an EV until I understood how it could benefit me. I don’t take many long journeys which, as a disabled person, makes charging on the go less of a concern. And once I looked into the running costs, I realised an EV would actually save me money due to my home charger and flexible energy rates. It costs me less to run an EV than my previous petrol car.”
