Following the recent government announcement of plans to prohibit all petrol and diesel vehicles by the year 2040, Britain’s motorists are weighing up the idea of switching to the perceived ‘greener’ electric vehicles more than ever before.
New research from Money SuperMarket aims to determine just how viable this switch is. The research reveals factors such as the true cost of making the switch to electric driving versus driving a petrol or diesel car. It also explores the number of charging points currently available in major UK cities, a key factor in the viability of the plan to encourage us to take the plunge and move to the electric car.
The research also highlights the lack of knowledge currently being shared on the benefits of driving electric and public concerns about the feasibility of the 2040 ban.
Are we prepared?
Key points are:
49% of the British public state that they have never considered purchasing an electric or hybrid car, it appears that information and cost are crucial factors in the public’s apprehension to go electric.
51% of people surveyed stated price is currently the biggest barrier to them buying an electric or hybrid car.
Nearly 30% of people currently don’t consider buying an electric or hybrid cars due to lack of understanding of the benefits and of how they work.
62% of people don’t even know that the Government offers discounts and grants on buying an electric or hybrid car.
The True Cost of Driving electric or hybrid
Cost is a major factor in the feasibility of the plan to move to electric vehicles and a concern for the public as a whole. Fundamental findings regarding 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.
Some findings on the cost of running each type of car type suggest:
* While the upfront costs of petrol vehicles were the lowest, the average running costs of an electric car are 20% cheaper than diesel and petrol engines, with an average saving of £2,109 across a 6 year period.
* Filling up your petrol or diesel car is 5 times more expensive than electric.
* Petrol cars boast the lowest average insurance premium (£697.19), whilst electric remains the most expensive to insure at £923. However, if drivers were to switch to electric in 2018, they’ll save almost £8,000 on running costs by the time the ban is enforced in 22 years time.
Taking Charge in 2040
The government’s plan to turn the UK into a nation of electric car drivers relies 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.
Data collected on the number of electric car charging points available to drivers in UK cities right now bring into question whether the UK as a whole is truly ready for an electric revolution. Whilst the capital performed well, with 210 charging points in Central London, other cities fell short. Large cities such as Liverpool and Cardiff had fewer than 10 charging points raising questions over the preparedness of major UK cities for 2040.
For the full data see here
For a carbon footprint comparison see here
