New electric vehicles are now cheaper than petrol cars for first time

• New electric vehicles (EVs) are now cheaper to purchase than petrol models for the first time, according to analysis by online vehicle marketplace Autotrader.
• The average price of a new electric car is £42,620, which is £785 less than a new petrol car, priced at £43,405.
• This price difference is attributed to Government grants and sustained discounting by manufacturers, with average EV discounts currently at 11.7%.
• Bex Kennett from Autotrader noted that increased competition and efforts by manufacturers have improved EV supply and affordability, also highlighting geopolitical events driving interest in EVs.
• The UK government's Zev mandate and the planned ban on new petrol and diesel car sales from 2030 are contributing factors to the shift towards electric vehicles.