Price of electric cars is the main reason drivers won’t buy one

A new survey of 2,000 UK drivers reveals the top ten reasons why car buyers won’t be buying an electric car.

Cost is the number one reason stopping drivers (69%), followed by the scarcity of electric charging points (57%), which is a particular sticking point for 68% of over 55s, compared to 44% of under 55s.

The Opinium survey, commissioned by InsuretheGap, a leading provider of GAP (Guaranteed Asset Protection) insurance, finds the third reason is range anxiety (54%), i.e., the fear of running out of charge on a journey, with over 55s again the most concerned about this (67%), compared to 40% of under 55s.

Half of drivers say the charging of electric cars takes too long, and almost half (49%) worry about the lifespan of the car battery, while 43% say they do not want to wait around in public places, like motorway service stations, for an electric car to charge.

Over four in ten drivers (42%) say crucially that they have no way to charge an electric car at home.

Distrust at the government possibly changing its view on the benefits of electric cars, as it did with diesel cars, affects 38% of drivers when considering buying an electric car.

Over a third (35%) say high running costs would stop them from buying an electric car (30% men and 40% women), and a fifth (22%) also worry about how environmentally-friendly electric cars really are, rising to 28% of over 55s, compared to 15% of under 55s.

Ben Wooltorton from InsuretheGap said, “Despite the lower running costs of electric cars, drivers continue to be put off switching to them due to their relatively higher purchase prices, and it seems likely that this may well be the case for the foreseeable future with inflation at such high levels as well as recent surges in the cost of energy creating uncertainty over the actual running costs of electric vehicles.

“However, the government’s announcement in August 2022 of a £20 million pilot programme to install over 1,000 new rapid on-street chargers and ‘petrol-station-style’ charging hubs is a step in the right direction for motorists keen to switch to electric, particularly as it’s part of a wider £450 million scheme of investment.

“In addition, the government’s support for household energy bills will make home charging a more predictable cost.”