The cost of running an electric car is ‘roughly half’ that of a fuel or diesel one.
According to new research from Compare the Market, the cost of running an electric car is “roughly half” that of a petrol or diesel model.
According to new research from the organisation, owning an electric vehicle is 47 percent less expensive than owning a standard vehicle since owners save so much on insurance, gasoline, MOT, and taxes. According to data from Compare the Market, the average cost of running an electric vehicle for a year is £1,091.
This is in comparison to over £2,000 for a regular petrol vehicle, a £971 difference.
“The popularity of electric cars continues to grow, with about one out of every ten new car sales,” he stated.
“Motorists who have made the transition will be relieved to learn that electric vehicles cost around half as much to operate as their gasoline counterparts.
“These drivers save a lot of money on gas, insurance, and taxes while also doing their part to help the environment.
“Electric car owners could save even more on operating costs if they shop around for the best bargain when it comes time to renew their insurance premium.
“These drivers may also want to consider converting their home electricity to a new Electric Vehicle Tariff.
“EV Tariffs are intended to assist motorists in lowering their energy bills by making overnight charging of electric vehicles more affordable.”
The cost of driving an electric car has decreased by £77 in the last six months, according to Compare the Market.
According to research, the average cost of electric car insurance is £583, compared to £640 for petrol users.
Electric car drivers can save a whopping £759 on fuel, with annual charging costing roughly £454 compared to £1,200 for a gasoline fill-up.
Switching to an all-electric vehicle can also save drivers an average of £155 in road tax.
It’s Kwik Fits’ Midsommer Madness promotion, which means you can save 10% on your MOT Test with the UK’s #1 MOT tester if you book online.
However, despite the significantly lower operating costs, the upfront fees are still quite considerable.
According to average expenses, a used electric vehicle is valued roughly £22,813.
This means that the decreased operating expenses would take more than 20 years to cover the high purchase price of a new electric vehicle.
Motorists may be able to cover, according to Compare the Market. “Brinkwire News in Condensed Form.”