Only one in six drivers think EVs will be affordable by 2030 ICE ban
Fewer than one in six motorists (16%) believe that electric vehicle prices will have fallen enough to make them affordable by the new government’s planned 2030 petrol and diesel phase-out date.
Latest research from Startline Motor Finance also shows that 22% say there won’t be sufficient public charging, 21% think people need more time to make the switch to EVs, and 21% believe people simply prefer petrol and diesel cars.
In contrast, just 21% say that the move should go ahead because it is the right thing for the environment.
Despite this apparent lack of enthusiasm for electrification, the Startline Used Car Tracker research also shows 71% of people expect to be driving an EV by 2030 with just 13% saying they would never own an electric car.
Labour’s election manifesto committed to reinstate the 2030 petrol and diesel new car ban after it was delayed to 2035 by Rishi Sunak last year. The new government has restated its intention to go ahead with the move since being elected despite concerns from the fleet sector.
Paul Burgess, CEO at Startline Motor Finance, said the findings from its research could appear contradictory, showing that most people believe that EVs will still be too expensive in 2030 but also expect to be driving one.
He went on: “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.”
Separate research that shows a lack of EV knowledge is hindering adoption is also now out.
The poll, carried out by YouGov for the Energy and Climate Intelligence Unit (ECIU), asked if 10 separate statements about EVs were true or false. More than half (57%) of petrol/diesel cars drivers got just two or less out of 10 correct, with 90% scoring just five or less. Around a quarter (23%) got none correct.
The poll reinforces a House of Lords Committee report earlier in the year in which it expressed concern about a “concerted campaign of misinformation” about EVs.