EV prices in the UK set to double in next 10 years

Richard Aucock, Contributor
Wed, 05 Mar 2025

Electric car prices are set to soar over the next decade, going up a staggering £20,500 to an average of £65,397 by 2035.

Overall, EV prices are forecast to rise by 103% in the next decade, which is well in excess of the predicted 46% rise in petrol and diesel car prices.

The analysis from Confused.com used information including a Freedom of Information request for average car price data. Linear regression was then used to analyse price trends over the years, helping it estimate prices for 2035, "assuming current trends continue."

Reasons for EV price increases include the fact technological advancements in EV battery life, charge times and improved safety features will all come at a cost, making them more expensive than ever.

The phase-out of internal combustion engine (ICE) vehicles is behind the rise in petrol and diesel prices, through simple supply and demand. However, Confused.com still expects EV price increases to outpace them.

"You’d be forgiven for thinking that the ICE car phase-out would mean cheaper electric vehicles," says Confused.com motoring expert Rhydian Jones.

Cheapest electric cars

"But EVs are actually also likely to experience a price hike of around 103% over the next decade, going from around £32k in 2019 to £65k in 2035."

According to NimbleFins, the average price of an electric car in the UK is currently around £46,000.

Things could be worse, though. Confused.com researched car price trends across 167 countries and found that the UK is expected to only be the 96th most expensive country to buy a car in 2035.

Denmark tops the chart, with an EV predicted to cost an average of £96k and an ICE car set to cost £76k.  

In Norway, EVs will cost £93k and ICE cars will average £73k by 2035, while Iceland will see EVs cost £87k and ICE cost £69k.

While prices vary widely across Europe, countries in the northern hemisphere are seeing larger rises.

This, says Confused.com, could be due to factors like high import duties, stricter taxation on vehicle emissions and strong currencies.

The research was inspired by Google Trends data showing that searches for "car costs in 10 years" are up 367% worldwide. 

Ask HJ

Can I renew my EV road tax early so it's free for longer?

Now that EV's will be liable for Road Tax from 01/05/2025 I see lots of people advocating renewing the current free Road Tax early to gain an extra period of free Road Tax. But as I understand it if you renew early the renewal date remains the same as it was so no free period will apply.

If you use the online VED renewal service you can retax for 12 months in March and obtain a year of VED at the existing rates, as tax can only be applied at the rates that are applicable on the day of renewal. Your existing tax will still expire on the original date, but the tax purchased in March will be valid for 12 months.

Answered by David Ross

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