Will EVs be cheaper in the future?

ASM Electrical is the perfect team to work with if you are thinking of getting an electric vehicle. We can provide a fantastic service so you can install a safe, reliable charge point at home. It will be the easiest way to keep your new vehicle charged. So, work with us if you want help from the best OLEV installers Exeter can offer.

EVs are in the spotlight at the moment for a number of reasons. Firstly is the fact that the oil and gas crisis is driving the price of fuels up at the moment. In fact, petrol hit a new record high in the last few days. On top of that, climate goals encourage a switch to electric instead of fossil fuel.


OLEV installers ExeterThere are a couple of things that deter some people from making the switch though. One of them is the range. Another is the concern about the number of charging points and their availability. However, it could be the cost that puts potential buyers off the most. Since their introduction, they have been more expensive to buy than petrol or diesel cars. Could that be about to change though?

There are plenty of analysts that expect the price of EVs to fall and reach parity with petrol and diesel cars in the next few years. It could happen because the cost to manufacture them will continue to fall. Plus, manufacturers will move towards producing them in larger numbers. This will reduce the unit cost.

Many Governments are also setting targets for EV sales. Manufacturers will have to respond by producing more vehicles and a wider range. This will lead them to focus on making different models from scratch, further reducing the cost because they won’t be reliant on existing platforms.

Second hand

Another thing that could really help boost the number of EVs is the rise in the second hand market. It is relatively small at the moment but could grow dramatically in the next few years.

The catalyst for this is the fact that many commercial fleets invested in EVs in 2019 because of the tax breaks. Most operators change vehicles every three years or so. What this means is there could be an influx of good quality second hand EV cars sooner rather than later. The market for them is huge, with Brits buying 7.5 million second hand cars last year alone.

Work with the top OLEV installers in Exeter

If you are planning ahead for your next vehicle, EV may be the way to go. You could save around £700 per year on fuel costs because electricity is cheaper than petrol or diesel. You can save even more with the right charging point, particularly if you choose a model that can charge the battery when the tariff is cheapest.

So, if you want an EV and a charge point at home, talk to us. We are the most reliable OLEV installers Exeter has. You can expect a great service and excellent value for money.