85% of EV Drivers Enjoy Lower Running Costs, but Upfront Expenses Remain a Hurdle

The transition to electric vehicles (EVs) is gaining momentum in Ireland, with 85% of EV drivers reporting reduced running costs compared to traditional petrol or diesel cars. However, a recent survey reveals that the upfront cost of purchasing an EV still deters a significant portion of potential buyers. This article delves into the findings of the survey conducted by DoneDeal, shedding light on the attitudes and challenges faced by EV enthusiasts and those considering making the switch.

The Cost-Efficiency of Electric Vehicles

The survey, which involved 937 Irish car buyers, highlights a positive sentiment among current EV owners. A substantial 85% of respondents reported that their ongoing expenses with an EV were notably cheaper than those associated with their previous petrol or diesel cars. This revelation underscores one of the primary advantages of EVs—lower operating costs. These savings typically result from reduced fuel expenditures and lower maintenance requirements, given the simpler mechanics of electric vehicles.

A Preference for Electric Mobility

Notably, the survey found that the majority of Irish EV owners have no intentions of reverting to traditional petrol or diesel cars. A significant 62% of EV drivers expressed their desire to purchase another EV for their next vehicle, emphasizing the growing appeal of electric mobility in Ireland.

Addressing "Range Anxiety"

Despite the overall positive outlook on EVs, the survey highlighted a persistent concern—range anxiety. Over half (55%) of EV drivers admitted to experiencing apprehension about their vehicle's range and whether it would be sufficient for their journeys. This anxiety is a common hurdle for those transitioning from conventional cars to electric ones.

The Barrier of Upfront Costs

While EVs offer long-term savings, the survey identified that the upfront cost of purchasing an electric vehicle remains a deterrent for approximately one-third of potential car buyers. Additionally, 27% of respondents cited the high prices of EVs as the main factor dissuading them from making the switch. It is essential to acknowledge that EVs are generally more expensive than their traditional counterparts in Ireland.

A Promising Future for Affordable EVs

The future of EV adoption in Ireland appears promising. DoneDeal anticipates that new entrants to the EV market, offering vehicles at various price points, will make electric mobility more accessible. An example highlighted is the BYD Atto 3, a Chinese EV that has gained popularity in Ireland, ranking 8th among the most in-demand EVs on DoneDeal.

Remaining Challenges

While the survey showcases the growing interest in EVs, several barriers persist. Thirteen percent of respondents identified a lack of charging infrastructure as a significant obstacle. Furthermore, 10% mentioned their inability to charge an EV at home, while others had concerns about residual value and range anxiety.

The survey conducted by DoneDeal provides valuable insights into the evolving landscape of electric mobility in Ireland. While running cost advantages and a preference for EVs are prevalent among current owners, addressing range anxiety and lowering upfront expenses remain essential steps in promoting widespread EV adoption. As new, more affordable EV options enter the market, Ireland is poised to embrace electric vehicles as a sustainable and cost-effective mode of transportation.

Read the full article on The Irish Times