“Especially, it seems to us, more effort needs to be put into showing consumers that the overall running costs of used EVs are generally very much comparable with familiar petrol and diesel cars, even if the upfront purchase price is higher. This seems like a crucial point when it comes to creating market acceptance.”
New data from AutoTrader shows the average price of a used electric vehicle has dropped from £39,166 in October to £38,021 in November – a fall of £1,145. This is a result of a number of factors, not least the significant increase in the levels of supply in the market.
Electric car drivers were dealt a major blow this month when Chancellor Jeremy Hunt announced that EVs would have to start paying vehicle excise duty (VED) from 2025.
Under the plans laid out, electric cars registered from April 2025 will pay the lowest rate of £10 in the first year, then move to the standard rate which is currently £165. The standard car tax rate will also apply to EVs first registered after April 2017.