Electric vehicle owners in UK see rising annual savings

Electric vehicle (EV) owners in the UK can save nearly £1,000 annually compared to petrol and diesel drivers, according to new data from Autotrader. The average annual savings for running an electric car have risen to £960, up from £780 the previous year.

Drivers who charge at home see the most significant benefits. Consumer interest in electrified vehicles is rising, with electric models accounting for 29.1 per cent of all new car enquiries on Autotrader in July. The market is also seeing increased variety and affordability, with 46 new electric models available for under £30,000.

In the used market, 43 per cent of electric vehicles are now priced at £20,000 or below. Additionally, government grants may offer further savings of between £1,500 and £3,750 for eligible vehicles with a list price of £37,000 or less.