New electric cars cheaper than petrol models for third consecutive month, says Autotrader

Brand new electric vehicles are now cheaper to buy than petrol cars for the third consecutive month as manufacturer discounting and government incentives continue to drive EV affordability, according to new data from Autotrader.

The latest figures from the UK automotive marketplace show the average price of a new electric vehicle currently stands at £43,049 after discounts, slightly below the average new petrol car price of £43,178.

The shift has been driven by sustained manufacturer discounting, with average savings on new EVs remaining at 11.7% off recommended retail price, alongside support from the Government’s Electric Car Grant. Around 40 electric models are now available for under £30,000, helping to lower the upfront cost barrier for consumers.

Autotrader said rising fuel costs are also accelerating interest in electric vehicles, with EVs accounting for 29% of all new car enquiries in April, the first time electric models have taken the largest share of demand.

More affordable electric models are proving particularly popular with buyers. The Skoda Elroq currently ranks as the UK’s most in-demand EV, accounting for a 4.1% share of enquiries in May to date. The Renault 5 E-Tech followed closely behind at 3.8%, ahead of the Kia EV3 at 3.7%.

Autotrader said the strong performance of these models highlights growing consumer appetite for more affordable electric vehicles, particularly those priced around or below the £30,000 mark.

Demand across the wider new car market also continues to strengthen. Visits to Autotrader’s new car platform have risen 18% year-on-year in May, while new car listings increased 8% month-on-month and 12% year-on-year as retailers seek to capitalise on rising consumer interest.

Across all fuel types, the Jaecoo 7 was the most in-demand new car in May so far, accounting for 4.3% of all new car enquiries. The model outperformed established competitors including the Land Rover Defender 110 and Volkswagen Golf.

Chinese manufacturers continue to build momentum in the UK market, with Jaecoo, MG and Omoda all featuring in May’s top ten most in-demand brands. BMW remained the hottest brand overall, accounting for 10.2% of total interest, ahead of Volkswagen and Land Rover.

Bex Kennett, head of new car at Autotrader, said: “The new car market is carrying strong momentum into the summer, with demand growing and stock levels rising as retailers respond to increased consumer interest.

“Competition between manufacturers remains intense, particularly in the electric market, where more affordable models and attractive offers from brands like Skoda and Kia are drawing in buyers. With enquiry levels continuing to act as a leading indicator of sales, retailers that capitalise on this demand now will be best placed to maximise performance in the months ahead.”

Autotrader also highlighted findings from the latest edition of its quarterly “Electric Cars: The Facts” report, produced in collaboration with the Society of Motor Manufacturers and Traders and ChargeUK. The report found potential fuel cost savings from running an EV reached £960 last month, the highest level recorded to date.