EV drivers save nearly £6,000

A new report finds drivers of EVs could save around £5,850 by making the switch to electric.

And that rises to £7,785 for new EVs.

Drivers charging from home can save an average of £3,125. Public charging can still create savings - an average of £431.

The chart shows the distribution of cash savings across all the scenarios analysed including 15 new, 35 used, and different ownership models for new cars, along with 3 different mileages. It compares drivers who charge mostly at home with those who rely solely on public chargers.

It costs £79 less per year to service an EV than average petrol and diesel cars.

80% of used EVs are cheaper than their petrol and diesel counterparts.

That includes 12 of the top 15 used EVs registered in 2022-2023.

Getting an EV through salary sacrifice saves around £2,194 versus a petrol car on the same scheme. This can increase to £6,450 for a higher-rate taxpayer covering 10,000 miles a year.

On average, 12 out of 15 EV models studied will save drivers money.

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