What Are The Prices of Electric Cars in 2023?

The UK government has announced that it will be providing £500 million to help the rollout of a fast-charging network for electric vehicles over the next five years… Which is great news for people looking into electric cars as buying prices will decrease! Let’s see what we can get…

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More and more people are considering switching to an electric car and they are considered a more environmentally friendly option, as they produce no emissions. This article explores the cost of buying and running an electric vehicle.

What is the price of an electric car?

With the increase in popularity, electric cars are also becoming more affordable with many electric cars now priced at around £16,000. Though, as is the case with traditional cars, the prices vary greatly depending on the make and model. There is also a growing market for luxury electric cars. Perhaps most famously Tesla, but more and more luxury car manufactures are also releasing luxury electric vehicles. Mercedes off an electric SUV, the Mercedes EQC 400, for £70,000. The most affordable electric cars are offered by Fiat, Skoda, Mazda, and Vauxhall. The cheapest car available is the Skoda CITIGOe iV, which is priced at just £15,000.

What is the cost of owning an electric car?

One of the advantages of electric cars is that they can also be cheaper to run and will probably cost you less throughout the period of ownership. Like with traditional fuel engines, the costs involved with running an electric car depends on the model.
Electricity is far cheaper than petrol or diesel. Electric cars also don’t require as much maintenance when compared to an internal combustion engine (ICE). The government also offers various incentives in the form of grants or schemes, and discounts or exemption from Vehicle Excise Duty, as well as an exemption from Fuel Duty.

Charging an electric car at a public station

Charging your electric car using a public charge point will vary in price depending on the location and the charge point network. Some local authorities provide a pay per session option to charges on the street. They can also be free to use if you have a network subscription. The cost of a public charge point also varies depending on the power rating, if it’s slow, fast, or Rapid.

Rapid charge points are usually found at motorway service stations. Though they can be free for some drivers, rapid charge points are one of the more expensive options. This is because they are more convenient as they provide a speedier charge option, being able to charge an electric car to 80% in 20-40 minutes. Pod point rapid charges cost on average £6-7 for 30 minutes of charging.

The Tesla Supercharger Network has points throughout the UK that are often free of charge for Tesla owners who have an older vehicle. However, Tesla owners who bought their car from 2017 onwards, may only receive a limited number of free hours of charging. For non-Tesla drivers, the cost of charging will vary according to the network used.

Charging cards for Electric Cars

Charging cards for Electric Cars are another option and are offered by some of the major public charging networks in the UK, such as ChargeYourCar, GeniePoint and Ecotricity. You will need to register as a member with a scheme before using public charging points.

Charging an Electric Car at home

For most electric car owners charging at home is the main option. Therefore, it is important to choose a good home energy tariff as the costs will be included in your home electricity bill. The cost will also depend on how much charging you do and the type of charger you own. You can install a home charge point for £1000 but there are also grants available from the Office for Zero-Emission Vehicles (OZEV) that can go towards this cost.

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