New research has revealed that plug-in hybrid vehicles (PHEVs) are significantly more expensive to purchase than their fully electric counterparts, contrary to common belief. According to a study by the Energy and Climate Intelligence Unit (ECIU), the UK's 10 best-selling PHEVs cost an average of £4,150 more than equivalent electric vehicles (EVs).
Higher Running Costs
The ECIU also found that PHEVs' real-world fuel consumption is nearly six times higher than manufacturers claim. This results in an average annual fuel cost of £620 more compared to EVs. Colin Walker from the ECIU warned that drivers aiming to reduce fuel costs might switch to PHEVs under a false premise.
Market Trends
Despite these findings, data from the Society of Motor Manufacturers and Traders (SMMT) shows that the market share for new PHEVs in the UK rose to 13 per cent in March, up from 9.5 per cent the previous year. Mike Hawes, SMMT chief executive, described PHEVs as a crucial stepping stone to full electrification, helping drivers familiarise themselves with zero-emission driving.
Electric Vehicles Gaining Ground
Autotrader reported that new EVs are now cheaper than petrol models, thanks to grants and manufacturer discounts. The ECIU emphasised that EVs offer better protection from oil market fluctuations, making them a more cost-effective long-term choice.
