Recent increases in fuel prices have caused 37.94% of drivers previously not in the market for an electric car to now consider one as their next vehicle to help save on running costs in the future, according to What Car?.

Rising fuel prices causing 38% of drivers to consider an electric vehicle as their next car

Research of 1,271 in-market buyers found fuel prices have caused 87.57% of drivers surveyed to spend more on petrol or diesel. The fuel price increases have also resulted in 37.94% of those previously not in the market for an electric vehicle to consider one as their next car, while 41.23% told What Car? they would remain with petrol or diesel models in the future. The rest (20.82%) were already in the market for an electric vehicle.

Fuel prices in recent weeks have reached nearly £2 per litre, which is compounding the general cost of living crisis impacting households in the country. At the same time, electric vehicle sales account for 16.1% of the UK new car market for the first six months of the year, up from 10.7% for the same period last year, according to the Society of Motor Manufacturers and Traders. This represents a 50% increase in electric vehicle market share over the same period and shows the significant increase in uptake for electric vehicles.

Of the drivers impacted by the fuel price increases, 31.09% said they are now spending between £10 and £20 more per week on fuel, while 26.42% estimate to be spending between £20 and £30 more per week.

The fuel price hikes have caused 53.25% of respondents to reduce the amount they drive, with more than half (57.19%) driving between 20 and 50 miles less each week, and 21.48% reducing their weekly mileage between 50 and 100 miles to save on costs.

Steve Huntingford, editor, What Car?, said: “One of the key benefits of electric vehicles is their lower running costs. An electric car can cost as little as 2 pence per mile to run, compared to more than 20 pence per mile for a petrol or diesel car, so it’s no surprise to see many now consider making the switch. As the new electric vehicle market grows, so does the used, which will help even more make the switch.”