EVs now cost less than petrol cars, according to new dataPurchase price has been a major barrier to EV adoptionMost in-demand EV brand and models revealed — MG and Renault top charts
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For anyone considering making the switch to an electric vehicle (EV), there’s good news as data shows the new battery-powered cars are now, on average, cheaper than their petrol-powered equivalents.
That’s according to AutoTrader, which has found the average new electric car costs £42,620, versus £43,405 for a new petrol vehicle. While the £785 difference might not be huge in terms of a car costing £40k+, it signals the positive shift in EV pricing.
The report notes “discounting on electric cars remains historically high”, with the average discount on new EVs at 11.7%, versus 10% for petrol cars.
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This news comes after EVs just had their best-ever month in the UK, and reports that used EV prices have hit parity with used petrol models.
Is now the time to buy an EV?
(Image credit: Newspress)
EVs have been more expensive than their petrol-powered counterparts for years, but the prices have slowly been coming down, while manufacturers have launched more affordable battery models in recent years.
The Government’s Electric Car Grant is also playing a part in bringing down the price of new EVs (priced at £37,000 and under), with a ‘Band 1’ discount of £3,750 available to the most sustainably-produced models.
There’s also a ‘Band 2’ grant of £1,500, which more EVs currently fall into, with eligibility criteria taking into account vehicle assembly emissions and battery pack production sustainability.
All of this means EVs are following the pricing trend of new technology, where initially the cost is high, but as supply chains and manufacturing processes mature, the cost to produce goods reduces.
It feels like this shift has taken longer with EVs – we tend to see flagship smartphone and TV features filter down to affordable models more quickly – but it is now happening.
Couple the reduction in price with improvements in EV range, new rules for EV charging at home, and continued uncertainty around the current fuel crisis, and buying an electric car is something I’d recommend if you’re in the position to do so.
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Which EVs are proving popular?
(Image credit: Renault)
According to AutoTrader’s April 2026 data, MG is the most in-demand EV brand, followed by Renault and Kia.
It’s Renault which has the most popular model though, with the Renault 5 topping the charts as the most enquired about vehicle, beating out the Jaecoo 5 and MG S5.
And affordable models continue to be announced, with Hyundai’s new compact, aerodynamic Ioniq 3 arriving with a 300-mile range and attractive price tag, while we recently fell in love with the affordable Renault Twingo.
The competition to be the best EV is as fierce as ever, and that’s great news for anyone looking to make the switch to electric.
Via EV Powered
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