A new report suggests that lower-income households could be left behind in the shift towards electric vehicles (EVs). A survey commissioned by online vehicle marketplace Autotrader revealed that less than half (48%) of households earning under £40,000 per annum would consider an EV for their next car purchase.
This is in stark contrast to the 84% of those earning above this threshold who would consider an EV. The survey also found that 70% of lower-income households have a driveway, often considered a crucial factor in deciding to buy an EV due to the convenience of home charging.
However, Autotrader stated that home charging is "not the clear-cut indicator of electric consideration – or likelihood to buy – as previously thought". Nearly two-fifths of lower-income households typically purchase cars priced at £5,000 or less, yet only 1% of used EVs fall within this price range, according to Autotrader.
The company also noted that lower-income families are significantly less likely to know someone who drives an EV. The report warns that without targeted action on affordability, millions of drivers could be excluded from the transition to EVs.
Ian Plummer, Autotrader's chief customer officer, said: "We're at a pivotal moment for the UK's EV transition – but there is still a lingering wealth divide. This new data also busts the myth that those who can charge at home will definitely switch – the driveway divide is no longer so clear-cut.
"If lower-income households can't access affordable vehicles, we risk creating a two-tier system where the benefits of cleaner, cheaper motoring accrue to those already better off.
"The path forward is clear: more choice at lower price points, greater transparency on battery health metrics, and practical charging solutions for people without driveways. Do that, and we unlock EVs for everyone – not just the few."
