Cost is biggest barrier to going green

Launched today, the third EVXperience report

Forget range anxiety, the biggest barrier to going electric is the vehicle cost, according to new research.

• A third of drivers would transition back to petrol or diesel vehicles if there were no tax incentives for electric vehicles.
• Without a used market, thousands of drivers are being priced out, making the transition uncertain.

Launched today, the third EVXperience Report, published by Zenith, the UK’s leading independent leasing company, found that more than a third (35.8%) of drivers would transition back if the monthly cost of an EV became more expensive than a petrol and diesel equivalent, with 34.4% reverting if there were no beneficial tax incentives.

The survey, which polled more than 3,650 EV drivers, also found that when it comes to running costs, 55.2% of drivers said they selected an EV because the cost of refuelling is less than a petrol or diesel vehicle, but almost a fifth (19.6%) would ignore the wider benefits and switch back, if the running costs for an EV increased beyond those of an equivalent petrol or diesel car.

Enjoying the benefits

Positively, nine out of 10 EV drivers say they are happy with their vehicle, and knowing what they know now, 74% would still select an EV over a petrol or diesel vehicle.

Early adopter worries about range and charging infrastructure appear to be declining, with just 16.6% of drivers concerned about running out of charge mid-journey, compared to 34.2% in 2024, and more than two-thirds (67.5%) of drivers confident using the public charging network. However, while this shows that access and reliability is improving, 85% of drivers believe the cost of charging publicly is too high.

“Since the first iteration of our EVX Report in 2023, it’s clear the initial concerns around ‘new’ technology such as range anxiety and an unreliable public charging network are easing. And, while it’s good to see that new EV registrations accounted for 25.3% of the overall market share in February 2025, the majority of these sales are through the incentivised company car and salary sacrifice schemes.

“The Government’s ZEV mandate has put pressure on manufacturers to sell more EVs, but for most drivers, the cost of buying new is pricing them out of the market. In order to accelerate the transition, we need to explore more ways to make EVs accessible, such as helping to create a thriving used market. Without access to lower cost vehicles, we’ll never make EVs the vehicle of choice and help reach our net zero targets.”

Ian Hughes, CEO of Zenith’s Corporate and Consumer divisions