UK Used Electric Cars Offer Major Savings

New research from the Energy and Climate Intelligence Unit (ECIU) reveals that UK motorists could save an average of £1,600 annually by driving second-hand electric vehicles (EVs) compared to petrol equivalents. The analysis highlights that savings have increased since early 2023 as used EVs are now competitively priced. The Audi e-tron offers the highest savings at around £2,600 per year, while the Renault Zoe provides the least savings at approximately £875. This trend is attributed to the success of the Zero Emission Vehicle (ZEV) mandate requiring manufacturers to sell a minimum percentage of zero-emission cars, which is set to rise to 100% by 2035. The ECIU estimates that the cumulative savings from EVs could reach nearly £40 billion by 2035 for future second-hand buyers. Current discussions between government ministers and automotive leaders may influence the future of this mandate.