Is now the time to buy an Electric Car?
Should you buy an electric vehicle now, or wait for better prices and infrastructure?
The Society of the Irish Motor Industry (Simi) has said sales of new cars are running nearly 5pc lower this year, versus the first two months of 2019. Hybrids are the main driver of demand as sales of new cars continue to slow and there has been a sharp drop-off in used UK imports.
In fact, In January, electric and hybrid (alternative fuel) vehicles accounted for almost 21 per cent of all new private cars, up considerably from 11.6 per cent in the same period last year.
It’s great news, of course, but green-motoring enthusiasts will also say that the overall proportion of electric cars is still quite low (2.4 per cent of the new car market). Diesel engines remain the most popular. Still, it’s moving in the right direction.
But lets be honest. Alot of us simply don’t buy new cars. Regardless of whether it’s electric or not, most people simply can’t afford a new car. New electric cars will go down in price over the next few years, but the real thing that will make electric cars truly affordable for the masses is a mature used electric car market.
The thing is, we are about five to 10 years away from a truly mature used electric car market, because we need more mass-produced electric car models to populate it. However, we are starting to see some glimpses of it, and some of them are starting to be somewhat affordable.