The rising price of fuel and the cost of living crisis have been among the biggest drivers behind the move to electric vehicles (EVs) over the past 12 months, according to automotive experts. As incomes have become increasingly squeezed and the climate change agenda has come into sharp focus in the wake of COP 26, the population has been looking for more affordable and greener transport solutions.

At the same time, proposals for a zero-emission vehicle mandate put forward by the UK Government will require a set quota of new models marketed by manufacturers to be EVs, writes Alex Wright.

But, with new EV registrations predicted to rise by more than 74% in 2022, according to DriveElectric, many manufacturers are already ahead of the curve, making new EVs more widely available on the market, while phasing out internal combustion engine (ICE) vehicles. On top of that, car dealerships are investing more heavily in adding EVs to their stock range.

Yet, in recent months, the lower long-term total cost of ownership (TCO) of EV compared with ICE has become one of the biggest enablers of their adoption. As EVs become more mainstream, spurred on by new entrants adding to the competition and disrupting the market, people have also started to trust them more.

This was evidenced as evidenced by a recent EY survey, which found that 49% of customers looking to buy a new car said they would choose an EV. “More recently, issues regarding cost-of-living pressures and the fuel crisis have meant there are economic advantages to adopting an EV,” says Sue Robinson, chief executive of the National Franchised Dealers Association (NFDA).

“It is significantly cheaper to charge your vehicle from the grid than it is to fill a tank a petrol. Further incentives include exemption from congestion charges and paying reduced rates of vehicle road tax.”