EVs Are Now More Affordable Than ICE Cars in the UK
According to Autotrader, the average new electric car in the UK now costs less than a new gas-powered equivalent for the first time ever. The dominant platform for automotive listings in the country, Autotrader recorded the average advertised price of a new electric vehicle at just over $57,500, against around $58,600 for combustion engine cars. This revelation essentially removes the upfront cost premium that has most often been cited as the primary financial reason preventing drivers from switching to EVs. A purchase subsidy unveiled last summer that reduces the cost of qualifying models by up to $5,000 is partly responsible for falling EV prices. Manufacturers also…