Despite record numbers of electric cars being registered on today’s roads, experts are warning there are things still holding people back from buying an EV. But with the 2030 deadline looming, time is a major factor in whether these issues can be resolved before the switchover.
So, what are the issues? There are several factors that present a barrier to electric car ownership. Not in the least the price. Let’s delve into the details…
The price of electric cars
There’s no surprise that cost is a major factor in whether people buy an electric or hybrid car. Currently, electric vehicles are more expensive to buy than petrol or diesel counterparts, making the options less favourable.
Some car manufacturers have models in a more affordable price bracket. But, these tend to be smaller vehicles with less range. With brands introducing more EVs to the market, a wider choice will inevitably start to bring the prices down. It’s just how quickly this happens that’s the issue.
While the initial price might put someone off, there’s the increasing cost of living to consider as well. Households are tightening their belts, and in turn, forking out for the latest electric car might be off the table. Instead, consumers may be holding out until nearer the cut-off before switching to a new car.
Experts highlight that reducing the price of electric vehicles will also positively affect the second-hand EV market. If more people can afford to buy new electric cars, then more will become accessible down the line to those that can’t afford to buy brand new.
Charging network
We’ve all seen charging points in supermarkets and service stations. But, compared to the fuel stations you see on a single trip, there’s still some way to go.
This is another issue for drivers looking to potentially make the transition to electric. The current grant for homeowners to install a wall-box has dried up. So unless you live in a flat or rented accommodation, there’s no help to buy or install a charge-point. An upside is that any new homes or new build workplaces from June 2022 need to have a charge-point installed, which will make the transition easier.
That said, the government set out plans in the Electric Vehicle Infrastructure Strategy for a minimum of 300,000 public charge-points by 2030. As of the end of September 2022, there are just under 35,000 charge-points. While it feels like a way off, if funding and installation go to plan, there will be a lot more access to electricity for EV drivers.
Range anxiety
Most people don’t think twice about running out of fuel, but when it comes to the range of an EV, it creates apprehension. This hesitancy typically comes down to how people perceive electric cars. The fear of running out of battery, particularly in remote locations, could make or break a vehicle purchase.
Fortunately, most electric cars nowadays have ample capacity for the daily commute. Many people travelling less than 30 miles daily, and the average EV has over 200 miles of range, meaning it would see you good for several days.
Car industry supply issues
There’s no denying the problems the car industry has faced in recent years. Issues on a global scale have seen carmakers struggle to deliver new models to the market as quickly as in previous years. Moreover, post-pandemic challenges are still very much in the limelight. Shortages of components paired with reduced staffing levels have slowed EV production.
Manufacturers are still calling for government support due to economic challenges and rising costs. But, it is yet to see the response they need to help the sector bounce back.
Cost of energy
One of the selling points of an electric car is lower running costs. However, with the price of energy increasing, even with the recent government intervention – consumers looking to buy an EV may be a little apprehensive.
Of course, how much it costs to charge an electric car comes down to the model and where you charge it. But with higher energy tariffs, drivers are looking at electricity bills more closely.
Electric is calculated by kWh, so drivers need to be aware of how much they’re paying per unit. For example, the energy price cap from October is £0.34p per kWh. So, if you have a car with a 100kWh battery, it will cost £34 to fill it up to 100%.
Fortunately, the recent government price cap has provided a buffer to the potential high-energy costs most households would see. This may provide consumer confidence in the EV market in the short term.
Alongside kWh price, the cost per mile is another aspect to factor in. This gives drivers a better idea of the actual cost of driving an EV, as this takes into consideration the range compared to fuelling a conventional car.
Lack of public communication
One of the most significant elements holding back the electric car revolution is the lack of public communication regarding the rollout. Of course, everyone knows what’s happening to a degree. But there are still vast unknowns about the transition, including whether they’ll be enough infrastructure in place and how the grid copes with increased numbers of EVs.
With better communication, the move to electric may prove more effective in the run-up to the deadline.
Switching to electric with Leasing Options
Thinking about making the switch? At Leasing Options, we make electric car ownership simple and affordable with our range of leasing deals. We have a wide range of models available from top brands, including Audi, Vauxhall, VW and BMW, plus many more – all with excellent range and performance.
Want to find out more? Chat with our team or browse our selection of electric and hybrid cars to find the perfect model.
