New Electric Cars Now Cheaper Than Petrol Vehicles

Electric vehicles are now cheaper to buy than petrol cars in the UK for the first time, according to the latest data from Autotrader. The average price of a new electric car has fallen to £42,620, undercutting the average petrol model at £43,405 by £785.

This shift marks a significant milestone in the automotive market, where upfront cost has long been a primary barrier to electric vehicle adoption. The change is attributed to sustained manufacturer discounting and government support, which have improved affordability across the sector.

Discounts on new electric vehicles averaged 11.7 per cent in April, following a peak of 12.8 per cent in March after the plate-change rush. While slightly eased, this remains historically high and continues to narrow the price gap with petrol models. Across the wider new car market, average discounts have softened to 10.0 per cent in April, up from 8.7 per cent a year ago, reflecting ongoing pricing competition among manufacturers.

Improved affordability is driving increased consumer interest. Autotrader reports a 20 per cent year-on-year rise in visitors to its new car platform in April, coinciding with the arrival of ‘26 plate vehicles and growing awareness of electric vehicle incentives. Retailers have responded by increasing the volume of new cars advertised, which is up 13 per cent compared to the same period last year.

Chinese-made models are gaining significant traction in the market. Autotrader data shows Chinese brands account for more than half of April’s top ten most popular new car models. MG has reclaimed its position as the most popular electric brand, accounting for 11.7 per cent of all EV enquiries, ahead of Renault at 7.5 per cent and Kia at 5.9 per cent.

At the model level, the Renault 5 E-Tech Electric has emerged as the most in-demand electric vehicle, capturing 6.4 per cent of all enquiries. This places it ahead of the Jaecoo 5 at 3.4 per cent and the MG S5 at 3.1 per cent, nearly doubling the share of its closest rivals.

The Volkswagen Golf remains the most popular model across all fuel types, maintaining its strong position in the broader market despite the shifting dynamics in the electric segment.