September 2022
Featured in this insight: Automotive
77% of over 55-year-olds say they will not purchase an electric car due to cost: A survey into the most common reasons why the British public continue to buy petrol and diesel fuelled cars has uncovered that seven in ten say that electric vehicles are too expensive; rising to 77% amongst those aged 55 and over.
The study by InsuretheGap polled 2,000 UK drivers to illicit why electric cars are not more common in Great Britain. In addition, it was found that 57% of drivers stated there are not enough charging points for electric vehicles; with 54% saying they have concerns about running out of charge on a journey.
This becomes a particularly challenging issue for people who say they have no way of charging an electric car at home (40%). Furthermore, charging times were also an issue, with half the drivers polled saying that electric car charging times are too long, and a further 43% saying they would prefer not to wait in public areas.
Alongside concerns about charging the car, 49% are concerned about the lifespan of the battery, found the research, with the average lifespan being between eight and ten years, and a decrease in capacity as it gets older.
When asked about their opinion on the benefits of electric cars, 22% worry about how environmentally friendly electric cars actually are, with 38% stating that they do not trust that the government will maintain its stance on the benefits of electric cars.
Alongside the cost of purchase, 35% stated concerns about the running costs of owning an electric car, with women more likely to be concerned about the cost.
Ben Wooltorton of InsuretheGap, said: "The government’s announcement in August 2022 of a £20 million pilot programme to install over 1,000 new rapid on-street chargers and ‘petrol-station-style’ charging hubs is a step in the right direction for motorists keen to switch to electric."
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