Buying an electric car for the first time is a big step. We know it’s the way forward, with the sale of petrol and diesel cars due to be banned in the UK from 2023 – eventually, everyone will need to ‘go electric’. But right now, there’s a significant barrier to making that switch, and that is the high price tag of most electric cars.

But not all electric vehicles (EVs) are expensive, so we’ve written this blog post to help you learn more about the average electric car cost, the cheapest electric car on the UK market, and whether EVs are starting to come down in price.

What is the average cost for an electric car?

In the UK, an electric car, on average, costs £61,370. However, you’ll be pleased to know some makes and models come in much cheaper than this. For example, you could get a small Smart EQ Fortwo Coupe for £22,225, which is relatively comparable to some new non-electric vehicles. In fact, the average cost of a new petrol or diesel car can range from £12,000 up to £28,000 – when you look at it like that, electric cars aren’t always the most expensive option.

However, if you are looking to splash the cash on a high-end electric vehicle, there are plenty that will set you back upwards of £70,000, such as the likes of Tesla, Porsche, Audi, Jaguar, and Mercedes.

The most expensive electric cars on the market are the Maserati Gran Turismo Folgore, which comes in at £200,000, and the Rolls Royce Spectre, which has an eye-watering price tag of £350,000.

How much does the cheapest electric car cost?

So, we’ve looked at the average electric car cost and the most expensive electric cars on the market, but what’s the cheapest electric car in the UK, and how much does it cost?

Well, that depends on what you class as a car – the Citroen Ami is currently the cheapest new electric vehicle on the UK market, coming in at just £7695. However, it’s not technically a car - it’s actually a quadricycle. While it might be ideal as a city runabout, it only has a range of about 47 miles and a top speed of 28 mph, so it won’t replace your family car any time soon.

The cheapest electric car (not quadricycle) on the market is the Smart EQ Fortwo Coupe, which comes in at £22,225. However, the Nissan Leaf is also a very popular choice and is a little bigger than the Smart car, with prices starting from £28,895.

When looking at cheap electric cars, you’ll also need to factor in the size of the vehicle, the driving range it has and the battery capacity so you can work out whether it’s the right EV for you.

Which electric car is the cheapest to run?

We’ve seen which electric cars are the cheapest to buy, but a major advantage to going electric is having a car that is generally cheaper to run on a day-to-day basis than an internal combustion engine-powered car.

But of course, different electric cars work differently, and some are more economical than others.

So, what’s the cheapest electric car to run in the UK?

Many makes and models, such as the Nissan Leaf, Mini Electric, and Hyundai Kona, offer cheap running costs. However, how much they cost you will depend on the battery capacity of the model you choose, where you charge them, your car’s driving range, and the amount you pay for your electricity per kWh. As a guide, currently, the average electricity cost for those on a standard variable tariff is 33.2p per kWh, so to charge a Nissan Leaf with a 39-kWh battery and a range of 145 miles, would cost you around £12.94 to charge.

Are electric cars getting cheaper?

Although it may seem like electric car costs are still much higher than those powered by diesel and petrol, electric cars are expected to come down in price.

When EVs were first introduced to the market, there weren’t many around, and they were costly to produce, which meant a higher selling price. In recent years, however, thanks to advancements in technology and more people switching to electric, there are more electric cars on the market. Therefore, as sales volumes increase, production costs typically decrease, which usually means a drop in sale price.

As EVs become more common, you’re also more likely to find used EVs for sale, which, like any car, will be significantly cheaper than buying brand new.

FAQs

Which is the most affordable electric car?

Although you can buy a Citroen Ami for £7695, it’s technically not a car but a quadricycle. The next step up is the Smart EQ Fortwo Coupe, the cheapest electric car on the UK market, with prices starting from £22,225.

What is Tesla’s cheapest EV?

If you’re buying from the Tesla range, their cheapest electric car is the Model 3, with costs starting from £34,914. However, Elon Musk has revealed that Tesla is working on a new entry-level hatchback model, which could cost just £18,000.

Are electric cars overpriced?

You may think that electric cars are overpriced. However, while an EV may cost more initially, they also tend to require much less maintenance, and it’s generally still cheaper to charge an electric car than fill it up with a tank of fuel, which could mean it works out cheaper to have an electric vehicle in the long run.

What is the average price of an electric car in the UK?

In the UK, the average electric car costs around £61,370. However, some makes and models start much lower than this. For example, the Smart EQ Fortwo Coupe starts from £22,225, while larger models, such as the MG4 EV Standard Range, start from £25,995 and the Nissan Leaf from £28,995.

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