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EV vs ICE: Are electric cars worth it?

Internal combustion engine vehicles still made up the majority of new car sales in 2021. But are the benefits of electric enough to make you switch? We compare the two.

*Updated in June 2022.

 

Despite the fact that we’re only years away from an end to the sale of new internal combustion engine (ICE) vehicles, they were still the dominant market contender in 2021 – with a 60.5% market share (342,971 petrol and diesel registrations – SMMT).

However electric vehicle sales are experiencing rapid growth, even performing well during the Covid crisis which saw general car sales fall.  BEVs (battery operated vehicles) currently hold a market share of 10.8%, PHEVs (plug-in hybrids) at 5.4% and HEVs (hybrids) at 11.7% (April 2022).

As of March 2022, there are now more than 840,000 plug-in vehicles registered in the UK – consisting of 460,000 fully battery powered electric vehicles (BEVs) and 380,000 plug-in hybrids (PHEVs).

But are electric cars worth it? For those considering making a new vehicle purchase, offering company EVs, or upgrading their fleet, we’ve pulled together a summary of the core differences of battery power versus ICE.

VehicleFuel cost per mileFuel cost per annun
Volkswagen ID.36.2p£630
Ford Focus12.1p£1,230
Tesla Model 3 Long Range5.9p£600
BMW 3-Series PHEV saloon11p£1130

*Above examples based on electricity price: 25p/kWh & fuel price 150p/litre. Approx. 10,000 miles/year
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