When it comes to used cars, EVUK found that 80 per cent of second-hand EVs are cheaper to buy up front than an equivalent petrol variant – likely due to the huge depreciation many models suffer. However, used owners don’t quite benefit as much as new buyers in the long run, only saving an average of £3,440 over five years – and once again, that is largely dependent on charging overnight.
Those able to use a wallbox can save more than £5,000 across five years, according to EKUK, and while it does say those without a driveway can still save money, we should point out that the organisation’s methodology involves a use of slow, rapid and ultra-rapid chargers which may not be entirely reflective of every owner’s usage patterns.
Regardless, the data still suggests EV affordability is moving in the right direction. EVUK’s CEO, Dan Caesar, said the study was part of “our mission to present the whole picture and not just present a partial – or even partisan – picture, of the realities of driving electric”.
Matt Western, a former senior executive for Peugeot and now Labour MP for Warwick and Leamington, hailed the report, stating: “The evidence is mounting, for many EVs are the right solution.”
Policy director for Octopus Energy, James Court, added: “The UK public needs this level of comfort, from trusted voices, to help them make the switch. Our own commissioned research found that 90 per cent of drivers won’t go back once electric. Save money, save the planet, drive electric.”
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