Overview
- Auto Trader, which published new data Friday, reported the average new EV at £42,620 versus £43,405 for petrol, a £785 advantage for electric.
- Used electric-vehicle sales rose about 25% year over year in the first quarter, while new EV sales fell roughly 26% in February from a year earlier, according to Cox Automotive.
- Rising fuel costs tied to the Iran conflict pushed U.S. gasoline averages above $4 and California near $6, and online EV research climbed on sites like Edmunds and Cars.com.
- Automakers boosted incentives in March, with average discounts near $8,000 and EV deals equal to about 14.6% of the average EV transaction price, Cox said.
- A wave of three-year off-lease EVs is hitting the market this spring, expanding supply and lowering prices, though many shoppers still worry about range, charge time, and public charging access.