Research has revealed, fewer than one in six motorists (16%) believe electric vehicle (EV) prices will have fallen enough to make them affordable by the new Labour government’s planned 2030 petrol and diesel cut-off date.
September’s Startline Used Car Tracker also showed 22% said there won’t be sufficient public charging, 21% said people need more time to make the switch to EVs, and 21% said people simply prefer petrol and diesel cars.
In contrast, just 21% said the move should go ahead because it is the right thing for the environment.
However, despite this apparent lack of enthusiasm for electrification, the Startline Used Car Tracker also showed 71% of people expected to be driving an EV by 2030 with just 13% saying they would never own an electric car.
It is a Labour Manifesto commitment to reinstate the 2030 petrol and diesel production ban after it was delayed to 2035 by Rishi Sunak last year. The new government has also reinstated its intention to go ahead with the move since being elected.
Paul Burgess, CEO at Startline Motor Finance, said: “At first glance, these findings might appear almost contradictory, showing that most people both believe that EVs will still be too expensive in 2030 but that they also expect to be driving one.
“Probably the most sensible interpretation is that they think electrification is inevitable but that the car they will end up owning as a result will cost them more than the petrol or diesel they are driving today. Whether this is true at that point in time is open to question. There are already a large number of relatively affordable EVs on the used market and prices will inevitably fall further, while battery reliability over time is proving to be good.
“Also, of course, prices of EVs will generally fall as production volumes continue to rise. Already this year, we have seen battery prices reduce quite dramatically, which should feed through into lower car pricing relatively quickly.”
