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Car Dealers Slash EV Prices in Desperate Scramble

via CNBC
This article was originally published at StateOfUnion.org. Publications approved for syndication have permission to republish this article, such as Microsoft News, Yahoo News, Newsbreak, UltimateNewswire and others. To learn more about syndication opportunities, visit About Us.

Car dealers in the UK are offering significant discounts of up to 25% on new electric vehicles (EVs) in an attempt to boost sluggish sales.

Analysis found the average discount on EVs rose from 2.4% to 7.5% from January 2023 to January 2022, equating to additional savings of £3,149 off list prices.

Discounts on EVs have grown much more than for petrol, diesel or hybrid models.

Official data also showed a 25.1% year-over-year drop in consumer EV sales in January.

Factors blamed for slowing consumer adoption include high purchase costs, insufficient charging infrastructure and mixed government messaging.

Even actor Rowan Atkinson’s opinion piece expressing doubts about EVs’ future viability was cited as potentially “damaging” to promotion of electrification goals by a think tank during a UK House of Lords meeting.

Rowan Atkinson’s article was titled, “I love electric vehicles – and was an early adopter. But increasingly I feel duped.”

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This article was originally published at StateOfUnion.org. Publications approved for syndication have permission to republish this article, such as Microsoft News, Yahoo News, Newsbreak,...

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