There are numerous factors at play which have contributed to why Western Car Giants struggle to invigorate and drive demand for their EV offerings. It’s not that people don’t want electric, that the charging infrastructure is lacking, or the issue of range anxiety that puts people off buying electric. It’s simply that, for the average private buyer, they’re unaffordable. They are too expensive. The new car market is no longer scaled to the wealth of average people.
According to the latest data from the SMMT, market share for full battery electric cars continues to grow but demand is levelling off, which has got car makers worried. We are nowhere near where we need to be on our journey towards net zero and widespread adoption of battery electric vehicles (BEVs) has always been key to achieving this. Petrol car sales barely shrank across 2024, equating to 54% of all cars sold YTD. In addition, demand for new hybrids actually grew from 20% a year ago, to 22% today. Our continued reliance on fossil fuelled vehicles is extremely worrying and European Car Manufacturers are not helping matters.
Consumers actually want to move to electric, its just that for many, they're unaffordable. There is a serious lack of affordable EV models being offered by European Car Manufacturers. Conquering the all-important affordability category will ultimately win over the average car buyer and deliver mass EV adoption both here in the UK and across Europe. It's this that is hindering electric growth, rather than consumers who remain unconvinced by the technology.
Out of the twelve cheapest BEV models that were available in the UK throughout 2024, only three were priced at the budget end <£20,000, with the remaining ranging between £22,000 and £28,000 (see table).
Affordable BEVs Available Currently in the UK (2024) | New Purchase Price | Production | Manufacturer |
Citroen Ami | £7,695 | Morocco | Stellantis |
Dacia Spring | £14,500 | China | Renault Group |
Vauxhall Corsa-e | £16,500 | Spain | Stellantis |
Citroen e-C3 | £21,990 | Slovakia | Stellantis |
Vauxhall Mokka-e | £22,500 | France | Stellantis |
Fiat 500e | £24,000 | Italy | Stellantis |
BYD Dolphin | £26,000 | China | BYD Auto |
Nissan Leaf | £27,000 | England | Nissan |
MG-4 | £27,000 | China | SAIC Motor Corp |
Peugeot E-208 | £27,000 | Slovakia | Stellantis |
Renault Zoe (discontinued) | £28,000 | France | Renault Group |
Mazda MX30 | £28,000 | Japan | Mazda Motor Corporation |
Growth of new EV car sales to this point have likely been fuelled by Fleet purchases and mid to high earners who have sufficient disposable income to splash out on the higher spec vehicles that inundate the auto market. European Car Manufacturers focus on producing higher-end vehicles as these appeal to the Fleet and Business segment (66% of all new cars sold) and typically deliver the best profit margins.
EV demand is plateauing likely due to this segment becoming over-saturated with choice, and not enough new buyers looking to purchase. Average wage earners haven’t got £40,000 or more to sink into a new car and consequently much of the current EV models remain unattainable.
Fear not, more choice is on its way, be it slowly. It might surprise you to read that 27 new EV models were launched in 2024 in the UK. Sadly, there were very few offerings at the budget end of the market (<£20,000) but a few additions to the £23,000 and under category. Here's what has recently arrived and what's still to come in 2025:
Model | Production Country | Vehicle Category | Starting Price | UK Launch Year |
Citroen Ami | Morocco | Micro EV | £7,695.00 | 2024 |
Dacia Spring | China | Supermini | £14,995.00 | 2024 |
Citreon e-C3 | Slovakia | Supermini | £21,990.00 | 2024 |
Skoda Epiq | Spain | Compact SUV | £22,000.00 | 2025 |
VW ID2 | Spain | Supermini | £22,000.00 | 2025 |
Renault 5 | France | Supermini | £23,000.00 | 2024 |
Mini Cooper electric | China (UK in 2026) | Supermini | £30,000.00 | 2024 |
Mini Aceman | China (UK in 2026) | Supermini | £31,800.00 | 2024 |
Volvo EX30 | China (Belgium in 2025) | Compact SUV | £32,850.00 | 2024 |
Kia EV3 | South Korea | Compact SUV | £32,890.00 | 2024 |
Fiat 600e | Poland | Compact SUV | £32,940.00 | 2024 |
Alfa Romeo Junior | Poland | Compact SUV | £33,895.00 | 2024 |
Jeep Avenger | Poland | Compact SUV | £34,999.00 | 2024 |
Cupra Born V2 | Germany | Family Hatchback | £35,495.00 | 2025 |
Skoda Enyaq | Czech Republic | Midsized SUV | £36,970.00 | 2024 |
Abarth 600e | Poland | Compact SUV | £36,975.00 | 2025 |
Scenic E-Tech | France | Compact SUV | £37,495.00 | 2024 |
Xpeng G6 | China | Midsized SUV | £44,000.00 | 2024 |
BYD Seal EV | China | Midsized SUV | £45,695.00 | 2024 |
Explorer | Germany | Large SUV - 5 Seater | £45,875.00 | 2024 |
Peugeot e-3008 | France | Midsized SUV | £45,950.00 | 2024 |
Cupra Tavascan | China | Midsized SUV | £47,340.00 | 2024 |
MG Cyberster | China | 2 Seater Roadster | £54,971.00 | 2024 |
Audi Q6 e-tron | Germany | Midsized SUV | £59,975.00 | 2024 |
Polestar 4 | China & South Korea | Midsized SUV | £59,990.00 | 2025 |
Kia EV9 | South Korea | Large SUV - 7 Seater | £65,025.00 | 2024 |
Porsche Macan | Germany | Large SUV - 5 Seater | £67,255.00 | 2024 |
Audi A6 e-tron | Germany | Large Sports Saloon | £69,000.00 | 2024 |
Polestar 3 | China | Large SUV - 5 Seater | £69,900.00 | 2024 |
Lotus Emya | China | Large Sports Saloon | £90,805.00 | 2024 |
Volvo EX90 | China | Large SUV - 7 Seater | £96,255.00 | 2024 |
Range Rover Electric | UK | Large SUV - 7 Seater | £100,000.00 | 2024 |
Renault 4 | France | Supermini | TBC | 2025 |
Jeep Recon | Poland | Large SUV - 5 Seater | TBC | 2025 |
VW ID.GTI | Spain | Supermini | TBC | 2025 |
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