One in four UK adults (23%) is considering buying an electric car within the next five years, according to new research from Sainsbury’s Bank Loans.
The supermarket bank’s latest Car Buying Index, which tracks consumers’ car purchase intentions, reveals that recent Government announcements designed to boost the switch to zero-emission vehicles are convincing large numbers of motorists that their future is electric.
First came news from the DVLA that Vehicles registered from 1 April this year would see CO2 calculations change. After the first year, the amount of tax depends on the type of vehicle, with petrol or diesel vehicles charged £140 a year compared to £130 for alternative fuel vehicles and no tax at all for vehicles with zero CO2 emissions. Vehicles with a list price of more than £40,000 will be charged a rate based fuel consumption, and an additional rate of £310 a year for the next 5 years.
In June’s Queen’s Speech the Government announced it would introduce an Automated and Electric Vehicles Bill which would require the installation of charging points at motorway service areas and large fuel retailers. In July it committed to banning the sale of all new petrol and diesel cars and vans from 2040 as part of its clean air plan.
While 23% of adults are considering buying an electric car in the next five years, a total of 41% believe they will buy one in the next decade.
The surge is not likely to be immediate, however, with just 3% of those who intend to buy a car over the next six months planning to choose one powered by electricity, compared to 52% who will opt for a petrol vehicle, 22% who plan to buy a diesel car and 14% who will opt for a hybrid. One in ten (11%) did, however, say they are ‘seriously considering’ buying an electric vehicle for environmental reasons, increasing to 16% who would seriously consider doing so if all petrol stations and motorway services had electric charging points.
Tim Payne, CEO at InstaVolt, said: “We’re pleased to see drivers are seriously thinking about going electric in the near future. They can rest assured that InstaVolt is working hard to bring more electric vehicle charging points to forecourts across the UK. We’re currently installing 3,000 rapid charge units, which can take batteries up to 80 per cent charge in just 30 minutes.”