- New research by the Energy and Climate Intelligence Unit (ECIU) indicates that most new plug-in hybrid vehicles (PHEVs) are more expensive to purchase than their fully electric equivalents, with the UK's 10 best-selling PHEVs costing an average of £4,150 more.
- The ECIU also found that PHEVs' fuel consumption is nearly six times higher than manufacturers claim, leading to an average annual fuel cost of £620 more compared to equivalent electric vehicles.
- Despite these findings, figures from the Society of Motor Manufacturers and Traders (SMMT) show that the market share for new PHEVs in the UK increased to 13 per cent in March, up from 9.5 per cent the previous year.
- Colin Walker from ECIU warned that drivers seeking to reduce fuel costs might switch to PHEVs under a false premise, as they often cost more to buy and run than EVs, which offer better protection from oil market fluctuations.
- Conversely, SMMT chief executive Mike Hawes stated that PHEVs serve as a crucial stepping stone to full electrification, helping drivers familiarise themselves with zero-emission driving, while Autotrader reported new EVs are now cheaper than petrol models due to grants and manufacturer discounts.
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