What is life like with your car? Let us know and win £500 in John Lewis vouchers | No thanks

Why are electric cars so expensive?

Why are electric/hybrid cars so expensive? There’s no chance that an ordinary family will buy one. What’s going on?

Asked on 11 June 2021 by James Carroll

Answered by Andrew Brady
They're still relatively new. There's a lot more research and development that goes into an electric car, and the costs involved increase the list price when the car goes to market. There's also the cost of the batteries. With that said, they start to make more sense when you look at the finance costs and factor in savings elsewhere.

For example, an electric Vauxhall Corsa-e will cost around £50 a more month than the equivalent petrol model. That's on a four-year PCP deal, with an equal deposit. Factor in things like the cost of taxing a petrol Corsa (c.£13/month), fuelling it (you could save hundreds here depending on your mileage) and servicing it (EV servicing is usually cheaper as there's less components), you could actually save a considerable amount of money by buying an electric car.
Similar questions
I need something for traveling 15 miles a day to and back from work, but I am fussy and want something that is cheap to run, insure and maintain yet has comforts like air con, a decent stereo and a heated...
What's the best electric car to buy in 2021?
Which is the best value electric car?
Related models
Electric car with range of up to 246 miles. Smoother ride than petrol models and easy to live with in and out of town.
 

Value my car

Save £75 on Warranty using code HJ75

with MotorEasy

Get a warranty quote

Save 12% on GAP Insurance

Use HJ21 to save on an ALA policy

See offer