Majority doubt EV affordability by 2030 despite planning to switch

Fewer than one in six motorists (16%) believe that electric vehicles (EVs) will be affordable by the Labour government's planned 2030 petrol and diesel ban, according to September’s Startline Used Car Tracker.

Concerns also include insufficient public charging (22%), the need for more time to switch (21%), and a preference for petrol and diesel cars (21%).

However, despite these concerns, 71% of respondents expect to be driving an EV by 2030, with only 13% saying they would never own one.

Paul Burgess, CEO at Startline Motor Finance, said: “At first glance, these findings might appear almost contradictory, showing that most people both believe that EVs will still be too expensive in 2030 but that they also expect to be driving one.

“Probably the most sensible interpretation is that they think electrification is inevitable but that the car they will end up owning as a result will cost them more than the petrol or diesel they are driving today. Whether this is true at that point in time is open to question.

There are already a large number of relatively affordable EVs on the used market and prices will inevitably fall further, while battery reliability over time is proving to be good.

“Also, of course, prices of EVs will generally fall as production volumes continue to rise. Already this year, we have seen battery prices reduce quite dramatically, which should feed through into lower car pricing relatively quickly.”

The Startline Used Car Tracker is compiled monthly for Startline Motor Finance by APD Global Research and surveyed 307 consumers and 60 dealers.