Psssst. Wanna’ buy a new electric vehicle (EV)? No, me neither, but some people do and they’re being greeted by desperate car dealers willing to slash prices by anything up to a quarter in an effort to shift stock.
This Is Money reports the average discount on a new EV in the UK has increased by 204 per cent since last January, citing market analysis by What Car? as dealerships are going to extraordinary lengths to stimulate sluggish sales.
The revelation comes just days after a Lords Committee warned the Government that UK drivers are turning their back on the electric transition.
They are blaming a toxic combination of high purchase costs, insufficient charging infrastructure, and mixed messaging from ministers.
The What Car? report sets out the financial details:
Analysis of the discounts available through What Car?’s New Car Deals service has revealed that, from January 2023 to January this year, the average cash and finance discount on EVs rose from 2.4 per cent to 7.5 per cent.
On average, this equated to dealers knocking an extra £3,149 off the list price of an electric car, taking the total saving to £4,603.
Its market research also shows that the growth in EV discounts in the past 12 months has far outstripped those for petrol, diesel and hybrid models.
Official car sales data held by the Society of Motor Manufacturers and Traders (SMMT) shows electric car sales to consumers – not fleets or businesses – fell by a quarter (25.1 percent) year-on-year in January.
Blame for the slow consumer embrace of EVs has been constantly shifting with English comedy icon Rowan Atkinson, forever applauded for his on-screen creation Mr. Bean, even blamed for “damaging” the reputation of EVs and contributing to slow sales simply by expressing his opinion on their future – or lack of it.
The actor was name-checked in the British House of Lords during its environment and climate change committee meeting.
Thinktank Green Alliance outlined the main obstacles the government faces in its bid to push petrol and diesel cars to the kerb before 2035, pointing to a newspaper comment piece by the Johnny English star published in June 2023 as damaging to the cause.
The 69-year-old actor’s piece was headlined: “I love electric vehicles – and was an early adopter. But increasingly I feel duped.”
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