Wednesday 22 January 2020

Electric cars 'will make sense' for most people soon: study

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New research on electric cars suggests owning one will make financial sense for most drivers by 2022.

The study by says electric vehicles (EVs) may be more expensive than petrol/diesel cars now - but that won't be the case in five years.

The UK-based group also says some secondhand EVs are already at bargain price levels.

While buying new can mean paying more than for a conventional car, running costs are making EVs more attractive, the study says.

The cost of batteries, the single biggest price determinant, has fallen dramatically and will continue to do so, it adds.

Despite all that, the harsh reality is that subsidisation remains key to EV growth. Sales of battery-driven vehicles, including plug-in hybrids, nosedived (61pc) in the first quarter this year when Denmark began to phase out tax breaks.

Pure EVs in Ireland are subsidised to the tune of €10,000. And while sales remain relatively small, new research suggests that may be about to change big time. An AA survey found 10pc of those surveyed are "very likely" to buy a hybrid or electric vehicle next time around.

See also: Why it's time our ministers wore green jersey for EVs

Indo Motoring

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