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Worried carmakers call for urgent UK help to reignite waning interest in electric vehicles
(www.theguardian.com)
this post was submitted on 08 May 2024
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I'm not paying 50 grand for a car that should be 30 grand at best, I'll keep on running what I have now thanks.
This is essentially it. The surge in demand probably came from company cars and those who can afford to buy expensive cars, but now that demand has been met then sales have dropped off. We're not yet in the market to replace our car but I do keep an eye on things, and every time I look at a new EV, they're like 30 or 40k over what I'd be willing to pay.
I imagine it's an issue of economies of scale, they're more expensive because they're producing less than ICE vehicles; the only way to get them cheaper would be for some heavy government subsidies.
If UK car makers can't get their EV costs down, they will be obliterated.
The upfront costs are coming down, heading to ICE parity, while the running costs and maintenance are much lower.
Assume 3 miles per kWh
kWh = 7.5p night rate
Cost per mile = 7.5p/3 = 2.5p per mile
Assume 30 mpg
Assume £1.50 per litre
There is 4.54609 litres per gallon.
So that is 30 / 4.54609 = 6.599 miles per litre
Cost per mile = 150p/6.599 = 22.73p per mile
Double the mpg for a decent diesel gives about 11p/mile, which is what I get most of the time.
Driving 8k miles per year that nets a £680 saving per year. That does not justify changing vehicles. Even a 5 grand difference in price would not be acceptable to most people imo. Even dropping road and luxury taxed barely change it.
If you double the mpg, you should double the miles per kWh, as 3 isn't very good either. I choose those numbers because that is my old diesel van vs my new EV van. 30mpg is generous and 3mpkwh is conservative. But the EV is a bit smaller, so that's about right.
I do about a thousand miles a month. I save about 20.23p per mile. So I save about £202 a month just on fuel.
The numbers of pence per kilowatt hour for an EV does not change dependent on the comparison to a petrol or diesel car. If we are talking about the efficiency savings, we would expect greater savings for the EV compared to a petrol car doing 30 mpg versus the comparison to a diesel car. And 3 miles per kilowatt hour isn't that unreasonable, you are not going to get 4 except in specific circumstances.
I think it's obvious that the more miles per unit time, the quicker an EV will pay off. But then, one does need to charge at home so the other challenges (off road parking, long enough between use periods) makes a large difference. It does not surprise me that it works better for you with a works van and high mileage, where it can be classed as a business expense with BiK bonuses. But it doesn't help Joe bloggs who does 6k/year at a push.
I'd like to buy an EV. I expect my next car to be one, whether I like it or not, and I've set everything up including solar panels to wring out every efficiency I can. But with this tax system and fuel cost differences the sums don't add up for me, and most other people.