INTELLIGENT BRANDS // Green Technology
Despite lower running costs,
majority of drivers reject electric
due to high upfront prices
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W
ith just over 20 years until petrol and diesel cars are
planned to be banned, Britain is weighing up the idea
of switching to ‘green’ driving more than ever before.
MoneySuperMarket has conducted a study to determine just how
viable this switch is.
The data reveals the true cost of making the jump to electric versus
driving a petrol or diesel car, as well as the number of charging points
currently available in different UK regions, is a key factor in the plan
to turn the UK electric.
With 49% of the British public stating that they’ve never considered
purchasing an electric or hybrid car, it appears that education and
pricing are crucial factors in the public’s apprehension to go electric.
Some of the key findings include:
Data collected on the number of electric car charging points
available to drivers in UK regions bring into question whether the UK
is truly ready for an electric revolution. While the capital performs
well, with 4,807 charging points in Greater London, other areas fell
short. The South West has only 1,673 points, while Yorkshire and the
Humber has just 1,049.
A spokesperson at MoneySuperMarket, commented: “Moving to
electric isn’t just a way to protect the environment – over the long
run, it’s more affordable. While the upfront costs will put many off,
some haven’t swapped because of a lack of knowledge about electric
vehicles – including government discounts and grants.
“It’s our hope that with this study, drivers across the UK can be a little
more informed about their options and make the choice that’s right
for them when they start looking for their next car.” n
• 51% of people surveyed stated price is currently the biggest
barrier to them buying an electric or hybrid car
• Nearly 30% of people don’t buy electric or hybrid cars due to lack
of knowledge of how they work
• 62% of people don’t know that the government offers discounts
and grants on buying an electric or hybrid car
Cost is a major factor in the sustainability of the plan to move to
electric and a general concern for the public. Fundamental findings
on the cost of buying and running electric, petrol and diesel cars
revealed that, although cheaper to run, electric cars are not the most
cost-effective motor to own overall. Some further findings on the cost
of running each car type include:
• While the upfront costs of petrol vehicles were the lowest, the
average running costs of an electric car are 36% cheaper than
diesel and petrol engines, with an average saving of £2,109 across
six years
• Filling up your petrol car is eight times more expensive than electric
• Diesel has the highest servicing costs at £309 a year, while electric
has the lowest, at £167
• If drivers switch to electric in 2020, they’ll save almost £8,300 on
fuel costs by the time the ban is enforced
The government’s plan to turn the UK into a nation of electric car
drivers rides not only on the cost of the cars over their lifetimes,
but also on the feasibility of fuelling these vehicles. Having an
appropriate number of public charging points will be key for the
success of Britain’s electric switchover.
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