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A quarter of adults plan electric car purchase

September 01, 2017

A quarter of adults plan electric car purchase

The popularity of electric cars continues to soar across the UK, with one-in-four adults now saying they are considering buying one within five years.

A survey by Sainsbury's Bank has found 23 per cent are thinking of going electric within this timeframe and 41 per cent may switch away from the internal combustion engine within a decade. However, only three per cent plan to do so this year. 

Nonetheless, the poll suggests that government policies aimed at increasing the uptake of electric cars are working. Measures include a change in car tax that will impose no charge on vehicles with zero emissions, while the Automated and Electric Vehicles Bill will oblige motorway service stations and major filling station providers to install charging points. It has also made a long-term commitment to end all petrol and diesel car sales in Britain by 2040.

By contrast, 19 per cent of buyers said they would deliberately avoid diesel because of new taxes and emissions zone charges that will make such vehicles very costly to run. These are coming in due to concerns about nitrous oxide levels in urban areas. 

While tax breaks could save money, getting a good deal on motor insurance is also important, particularly after the government put up insurance premium tax again in the March Budget. 

Earlier this week, AA insurance said the cost rise this has brought about has led to an increase in uninsured driving.

Commenting on Motor Insurance Bureau figures revealing the last year has seen the first increase in the number of crashes involving uninsured drivers in a decade, the AA said this was predictable because young and newly qualified drivers - who are most likely to have an accident - have borne the brunt of the increased cost.

It said this has led to some driving uninsured, or getting parents to "front" a policy, which, unbeknown to most, will invalidate it as such actions constitute fraud.ADNFCR-1789-ID-801839524-ADNFCR

This article is intended as generic information only and is not intended to apply to anybody’s specific circumstances, demands or needs. The views expressed are not intended to provide any financial service or to give any recommendation or advice. Products and services are only mentioned for illustrative rather than promotional purposes.

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