Are Electric Cars Now Cheaper Than Petrol? Autotrader Reveals Historic Price Shift

Electric Vehicles Achieve Historic Price Milestone

In a landmark moment for the UK automotive market, new electric vehicles have become cheaper on average than their petrol equivalents for the very first time. According to comprehensive data from Autotrader, this significant price shift has been driven by a combination of government grants and sustained manufacturer discounting strategies.

The Numbers Behind the Price Revolution

Autotrader's research reveals that during April, the average price of a new EV on their platform stood at £42,620 – representing a substantial £785 saving compared to the average petrol car price of £43,405. This price reversal marks a crucial turning point in electric vehicle affordability and could signal a new era for consumer adoption.

Manufacturer Discounts Driving Change

The transformation has been heavily influenced by manufacturers offering significant discounts, with the average EV discount reaching 11.7% in April after peaking at 12.8% in March following new plate day. Compared to the average discount across all fuel types standing at 10%, these aggressive pricing strategies are clearly making electric options more accessible to British car buyers.

Consumer Response and Market Dynamics

The improved affordability has generated noticeable market movement, with buyers looking at new cars on Autotrader's marketplace increasing by approximately 20% during April. In response, retailers are increasing their advertising volumes, with new car listings on the platform up 13% compared to the same period last year.

Chinese Brands Leading the Charge

The rise of Chinese automotive brands continues to reshape the UK market, with MG emerging as the most popular new electric car brand according to consumer enquiries. The manufacturer accounts for 11.7% of all new EV enquiries, pulling clear of rivals Renault (7.5%) and Kia (5.9%).

Most In-Demand Models

At model level, the Renault 5 E-Tech Electric has emerged as the most sought-after electric car among consumers, accounting for 6.4% of all enquiries – nearly double the share of its nearest rivals. The Jaecoo 5 (3.4%) and MG S5 (3.1%) completed the top three electric models.

Across all fuel types, the Volkswagen Golf (3.4%) continued its strong performance, topping the rankings for the third consecutive month ahead of the Jaecoo 7 (3.1%) and Land Rover Defender 110 (2.4%). Chinese models made significant progress with the Jaecoo 7, MG S9, Omoda 5, Chery Tiggo and MG HS all featuring in the top ten most in-demand models.

Industry Perspective on the Market Shift

Bex Kennett, head of new car at Autotrader, commented: "The electric car market is becoming increasingly competitive, and despite the challenges created by the ZEV mandate, manufacturers and retailers have worked hard to improve both the supply and affordability of new electric vehicles."

Kennett added: "Support such as the Government's Electric Car Grant, alongside historically high levels of discounting earlier this year, has brought EV prices to a point where they are now, on average, cheaper than petrol cars. At the same time, broader geopolitical uncertainty has pushed fuel costs and energy security back to the front of buyers' minds, driving a noticeable uptick in interest in both new and used electric cars."

The combination of improved affordability and shifting consumer attitudes presents what industry experts believe could be a genuine opportunity to accelerate the transition to electric motoring in the UK.