EV interest surges as fuel prices hit new highs

With the costs of filling the fuel tank of an average family car with 55 litres of petrol exceeding more than £100 for the first time, interest in EVs went up 113% in the first two weeks of June, according to research from Forbes Advisor.

Analysts at the price comparison and financial guidance platform used Google Trends data for to find the more-than doubling in interest between 1-14 June.

Commenting on the research, Laura Howard, Motoring Expert at Forbes Advisor, observed: “We’re deep in a cost of living crisis, and paying £100 to fill up the tank with petrol or diesel is beyond affordable for many families already struggling with energy bills and rampant inflation. Very few drivers will see the pump price indicator race towards three figures with anything other than dread and dismay.”

However, there is more to consider than just the fuel versus charging dichotomy. While the average EV purchase price is £51,924, for internal combustion engine (ICE) cars the average is £26,752: “Those fortunate enough to have the money for a new car might consider an EV on the basis of its relatively low running costs. But they should remember that the purchase price premium means they won’t earn back the higher cost for a long time.”

Laura added: “Anyone looking for immediate savings to ease the stress on their wallet should look for other ways to cut the cost of motoring, from shopping around for a better insurance deal to ditching the heavy roof-rack.”

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