Rising fuel prices cause 38% of drivers to consider an EV

Recent increases in fuel prices have caused 37.94% of drivers previously not in the market for an electric car to consider one as their next vehicle, research by WhatCar? has shown.

The research of 1,271 in-market buyers found fuel prices have caused 87.57% of drivers to spend more on petrol or diesel.

While 37.94% said they would consider an electric vehicle (EV) as their next vehicle, 41.23% said they would remain with petrol or diesel models in the future. The rest (20.82%) said they were already in the market for an EV.

Steve Huntingford, editor at What Car?, said: “One of the key benefits of EVs is their lower running costs.

“An electric car can cost as little as two pence per mile to run, compared to more than 20 pence per mile for a petrol or diesel car, so it’s no surprise to see many now consider making the switch.

“As the new EV market grows, so does the used, which will help even more make the switch.”

In recent weeks, fuel prices have reached nearly £2 per litre, which is compounding the general cost of living crisis.

EV sales account for 16.1% of the UK new car market for the first six months of the year, up from 10.7% for the same period last year, according to the Society of Motor Manufacturers and Traders (SMMT). This represents a 50% increase in EV market share over the same period.

Recent research by AM revealed that new car buyers are leapfrogging plug-in hybrids (PHEVs) in favour of a faster EV switch as soaring fuel prices and manufacturing constraints app to the appeal of zero-emission transport.

The research also revealed that of the drivers impacted by the fuel price increases, 31.09% said they are now spending between £10 and £20 more per week on fuel, while 26.42% estimate to be spending between £20 and £30 more per week.

The fuel price hikes have caused 53.25% of respondents to reduce the amount they drive, with more than half (57.19%) driving between 20 and 50 miles less each week, and 21.48% reducing their weekly mileage between 50 and 100 miles to save on costs.