It’s currently possible to save up to £4188 on a new electric car. And you don’t even have to haggle, thanks to our free New Car Buying service…
Electric cars have been hugely popular and demand has traditionally been so strong that discounts on them were virtually impossible to find. That has started to change, though, with the average saving on an electric vehicle (EV) now standing at 3.1% or £1805 per car. That’s up more than 25% year on year.
The catalyst for the discounting was Tesla’s big price reduction of its models in January 2023. A number of other factors have also had an influence on prices, including the slowing of new car sales due to the cost-of-living crisis, a drop in resale values of EVs, and the impending Government directive that 22% of all cars sold by manufacturers must be all-electric from next year.
Even though electric car sales are growing more rapidly than those of other fuel types – with registrations up 18.8% compared with 18.4% for petrol models – the discounts available on them are also increasing, according to data compiled by What Car?’s Target Price team.
Read more: WhatCar
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