Electric vehicle drivers could save nearly £1,000 a year due to rising fuel prices, according to data from Auto Trader and Zapmap.
Based on current prices at the pumps, it has calculated that drivers of electric vehicles could save £960 compared to those with petrol or diesel vehicles.
This comes as Autotrader, ChargeUK and the SMMT release Electric Cars: The Facts, a campaign designed to combat misinformation surrounding electric vehicles.
Among its finding, The Facts found that there are now 40 new electric vehicles with a recommended retail price below £30,000, while 26% of used electric vehicles are now priced £15,000 and below. Meanwhile, the average range of a new electric vehicles is now over 300 miles, with some models able to do 500 miles in a single charge.
Cost savings
Melanie Shufflebotham, co-founder and COO at Zapmap, said: At Zapmap we’ve been tracking the cost of charging on the public network since November 2023. We’re now seeing that for electric vehicle drivers, the cost saving of charging compared to fuelling a petrol or diesel car is at the highest level since December 2023.”
Marc Palmer, head of strategy and insights at Auto Trader, added: “Now more than ever, it’s vital consumers understand the potential benefits of electric driving, with average running cost savings so high and upfront price reducing, it’s a great time to consider.
“We’re determined to ensure drivers have the right information to make informed choices that best suit their needs. Whilst we know electric cars might not yet be right for all buyers just yet, we hope The Facts help provide confidence for those that are keen to make the switch.”
