Although the government recently announced plans to ban the sale of new diesel and petrol cars by 2040, our latest research shows that two thirds (67%) of motorists don’t want an electric or hybrid vehicle as their next car. In fact, only 6% say they’d choose a purely electric model!

And the biggest deterrent? Nearly half (49%) of UK drivers say they simply can’t afford to go green – and that adds up to a whopping 18 million motorists nationwide. Of these, 41% said they don’t have the money to buy an electric car and nearly one in ten are worried that they’ll cost too much to insure. And their concerns are justified, as we found that drivers of electric cars are paying 45% more to insure their vehicle – the average premium for an electric vehicle stands at £1,070 compared to £740 for a diesel or petrol car.

No charge?

Drivers are also worried that the UK doesn’t have the necessary infrastructure to support the increased number of electric cars, with almost two thirds saying they don’t not want an electric car because they’re unsure where they can charge it. And although there are 4,811 charging stations around the UK at the moment, there are questions over whether this digital network can expand quickly enough to keep up with the predicted growth of battery-powered vehicles.

Our research also suggests that age plays a part in how keen drivers are to go green. Around a third (38%) of those aged over 55 would like a hybrid or electric car, compared to just 24% of 18-24 year olds. The upfront cost of buying an electric car could explains this; the average cost of a Nissan Leaf (the most popular electric car to insure) is around £21,000, and with young motorists saying they can only afford to spend £6,500 on their next car, this may seem like an unrealistic investment. 

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John Miles

Head of Motor Insurance

comparethemarket.com

Despite the government’s plan for all cars to go green by 2020, motorists still have significant and legitimate concerns about electric cars. Our research suggests that only 6% of drivers would choose an electric model for their next vehicle and are far more comfortable with traditional fuel models. Nobody wants to run out of power half way through a journey and find themselves miles from a charging point. Whilst the number of charging points across the UK is growing day by day, there are still fears that the UK does not have the sufficient infrastructure to cope with this rapidly growing market.

So if you’re thinking about getting an electric car, take a look at how much you could save on your insurance by starting a quote with us. 

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