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Appetite For Electric Cars In UK Collapses As Pandemic Squeezes Finances

Financial Times

The number of people in the UK planning to purchase an electric vehicle has collapsed as the pandemic squeezed finances for potential car buyers, according to a leading online automotive portal.

An Auto Trader survey in January found 16% of respondents were planning to buy a battery-only car. This figure fell to 4% in a survey in August © Andrew Aitchison/In pictures/Getty Images

A survey by Auto Trader of 2,300 consumers in January found 16 per cent were planning to buy a battery-only car. But in an August survey of 2,700 people, just 4 per cent were considering a pure electric car.

While electric cars remain more expensive to buy than petrol rivals, consumers typically recoup savings in fuel and running costs.

Yet almost half of those surveyed by Auto Trader last month who had decided against buying an electric car said changing personal finances meant they could no longer afford the money needed to buy the vehicle at the outset.

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