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Concern about price and charging points holding back electric car market

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Lucy Harley-McKeown
·2 min read
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JIAXING, CHINA - FEBRUARY 19: Employees work on the assembly line of Neta electric car at a factory of Hozon New Energy Automobile Co., Ltd on February 19, 2021 in Jiaxing, Zhejiang Province of China. (Photo by Cheng Jie/VCG via Getty Images)
Consumes are reluctant to buy electric cars because of the presumed pricetag. Photo: Cheng Jie/VCG via Getty Images

Despite a push towards electric vehicles by governments around the world, consumers might still take some convincing if there is to be mass uptake of the sustainable mode of transport.

According to a new survey by Close Brothers Motor Finance, a quarter (24%) of consumers intend on purchasing an alternative fuelled vehicle (AFV), such as a battery, electric, or a hybrid car, as their next vehicle purchase.

Despite this, the same survey found a number of concerns were holding people back from investing in an AFV.

Nearly half, 47%, said they thought AFVs were too expensive, while a similar proportion — 44% — said they did not think there were enough charging points.

More than a quarter (26%) said there was not enough information available to help them make a decision in favour of owning an AFV.

Meanwhile, almost a fifth (18%) said there was not enough choice in the market when it comes to different models.

Seán Kemple, managing director of Close Brothers Motor Finance, said: “It’s important that the motor industry addresses these worries in 2021.

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"Not only are we less than a decade away from a ban on new petrol and diesel vehicles, but now, Ford are ramping up plans for an all-electric future – and with the Ford Fiesta consistently topping the chart as the UKs most popular car, this is going to be impactful.

"For drivers not to be caught out by these big changes, more needs to be done to ease worries and incentivise them to choose an AFV."

In terms of areas that might convince a consumer to buy an AFV, four in 10 of the 1050 surveyed said support to install a battery charging service at their home would encourage them.

Information on running costs and energy tariffs would also tip the balance for 27%.

Access to warranties and protection products was also important for 18% of consumers considering a change.

Watch: Cars firms race to electric vehicles