New electric cars cheaper than petrol models for first time, says Autotrader

New electric vehicles have become cheaper to buy than petrol cars on average for the first time, according to new data from Autotrader, marking a significant milestone in the transition to electric mobility.

Figures released by the UK’s largest automotive marketplace show that the averageprice of a new electric car is now £42,620, compared with £43,405 for a petrol equivalent – a £785 gap in favour of EVs.

The shift has been driven by a combination of government incentives and sustained manufacturer discounting, which have steadily narrowed the price gap between electric and petrol models.

Although average discounts on EVs eased slightly in April to 11.7%, down from a record 12.8% in March, they remain historically high. Across the wider market, discounts across all fuel types stand at 10.0%, still well above last year’s levels.

This increased affordability is beginning to reshape buyer behaviour, with Autotrader reporting a 20% year-on-year rise in visits to its new car platform so far in April, boosted further by the arrival of new ‘26 plate’ vehicles.

At the same time, supply is also increasing, with the number of new car listings on the platform up 13% compared to the same period last year.

Among electric brands, MG has emerged as the most popular in April, accounting for 11.7% of all EV enquiries, followed by Renault and Kia.

At model level, the Renault 5 E-Tech Electric has taken the top spot, generating 6.4% of all enquiries – nearly double that of its closest competitors, including the Jaecoo 5 and MG S5.

The data points to growing consumer appetite for competitively priced EVs across a range of segments.

Across the broader new car market, traditional favourites still feature prominently, with the Volkswagen Golf topping demand rankings for the third consecutive month.

However, Chinese manufacturers are making significant inroads. Models such as the Jaecoo 7, Omoda 5, Chery Tiggo and MG HS now account for more than half of the top ten most in-demand vehicles.

At a brand level, BMW leads April’s rankings, followed by MG and Land Rover.

Bex Kennett, Head of New Car at Autotrader, said the market is reaching a turning point:

“The electric car market is becoming increasingly competitive. Support such as the Government’s Electric Car Grant, alongside historically high levels of discounting, has brought EV prices to a point where they are now, on average, cheaper than petrol cars.”

She added that wider geopolitical uncertainty, including rising fuel costs, is also influencing buyer behaviour:

“This combination of improved affordability and shifting attitudes towards the cars, presents a real opportunity to accelerate the switch to electric.”

The data suggests the UK market may be approaching a key inflection point, where cost parity, long seen as a barrier to EV adoption, is no longer an obstacle.