If you are in the market for a new car, or starting to think that you may be in the next few years, you’ve probably stopped to consider the idea of taking on an electric car. While hybrid vehicles have been around for a while and slowly gaining in popularity, the idea of an all-electric car hasn’t been something that has appealed to all.
Issues with charging points, running out of charge partway through a journey, the issue of having to break up longer journeys in the hunt for a charge point to be sure to make it home. It’s all been a bit of a headache that has put many off and left people sticking to buying petrol or diesel vehicles.
But that appears to be changing. News shows that as of today, industry analysts are suggesting that sales of petrol cars have peaked, and that by the end of the 2020’s, a third of all new cars sold will be electric- that’s 31million vehicles in total worldwide.
During the pandemic, inevitably car sales were hard hit, and car sales volumes are not predicated to return to pre-COVID levels before 2024. One area that hasn’t been as hard hit is the electric vehicle market, which was proven to be relatively COVID-proof. Currently electric cars have 16.2 of the market share of car sales throughout Europe. This number is set to grow as the price of buying a new electric vehicle is coming down and government incentives, such as the £3,000 plug-in car grant in the UK are available to help bring the cost down further.
While lifetime running costs of electric cars are only marginally less than a regular petrol or diesel car, the increased availability of electric cars with a bit of grunt and torque are starting to make them appeal to people who would have ruled them out only a few years ago. On average they are thought to be around £107 cheaper throughout their lifetime. A lot of the increased costs find in electric vehicles isn’t the fuel or tax but the car insurance, which can be up to 25% more expensive for an electric car over a petrol one. While we can’t promise that there won’t be a premium to pay if you are insuring an electric car, our free quote tool will ensure you are able to get the best possible deals direct, without having to do the legwork. And that’s something.