- Electric vehicles now cost less than gasoline cars, new data shows
- Purchase price has been a major barrier to electric vehicle adoption
- Most in-demand electric vehicle brand and models revealed: MG and Renault top the charts
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For anyone considering switching to an electric vehicle (EV), there’s good news as data shows that new battery-powered cars are now, on average, cheaper than their gasoline equivalents.
That’s according to AutoTrader, which found that a new electric car costs on average £42,620, compared to £43,405 for a new petrol vehicle. While the £785 difference may not be huge for a car costing over £40,000, it signals a positive change in EV pricing.
The report notes that “electric car discounts remain historically high,” with an average discount on new electric vehicles of 11.7%, compared to 10% for gasoline cars.
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The news comes after electric vehicles just had their best month on record in the UK and prices of used electric vehicles reached parity with those of used petrol models.
Is now the time to buy an EV?
Electric vehicles have been more expensive than their gas-powered counterparts for years, but prices have slowly fallen as manufacturers have launched more affordable battery-powered models in recent years.
The government’s electric car grant also plays a role in lowering the price of new electric vehicles (priced from £37,000 and below), with a ‘Band 1’ discount of £3,750 available for more sustainably produced models.
There is also a ‘Band 2’ grant of £1,500, which more electric vehicles currently fall under, with eligibility criteria taking into account emissions from vehicle assembly and the sustainability of battery production.
All this means that electric vehicles follow the price trend of new technologies, the cost of which is initially high, but as supply chains and manufacturing processes evolve, the cost of producing goods decreases.
It seems like this shift has taken longer with electric vehicles – we tend to see flagship features of smartphones and TVs trickle down to affordable models more quickly – but it’s happening now.
Combine the price reduction with the improved range of electric vehicles, new rules for charging electric vehicles at home and the continued uncertainty around the current fuel crisis, and buying an electric car is something I would recommend if you are in the position to do so.
Which electric vehicles are proving popular?
According to AutoTrader data from April 2026, MG is the most in-demand electric vehicle brand, followed by Renault and Kia.
It is Renault which has the most popular model, the Renault 5 leading the ranking of the most requested vehicles, ahead of the Jaecoo 5 and the MG S5.
And affordable models continue to be announced, with Hyundai’s new compact and aerodynamic Ioniq 3 arriving with a 300-mile range and an attractive price, while we recently fell in love with the affordable Renault Twingo.
The competition to become the best electric vehicle is fiercer than ever, and that’s great news for anyone looking to go electric.
Via EV powered
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