New research by Autotrader has found the price difference between electric cars and a comparable petrol model has more than halved in just two years.
The upfront RRP price gap has narrowed to 15 percent between EV and ICE models. Two years ago, it was 34 percent.
What’s more, six of the top 10 best-selling electric cars in January and February 2026 all carried a price premium of less than 10 percent versus their petrol counterpart.
Autotrader says the savings for consumers could be even greater. Its research looked only at official RRPs, not discounted prices paid by customers.
The Electric Car Grant also wasn’t included in its calculations – with models such as the Ford Puma Gen-E and 2026 UK Car of the Year Award-winning Renault 5 currently boasting a huge £3,750 saving.
Increasing openness to EVs
“The price barrier is being broken down repeatedly thanks to industry investment and technical innovations,” said Autotrader chief customer officer, Ian Plummer.
“Consumers are responding. Our research shows 62 percent would consider an EV for their next car, which is incredibly positive.
“It’s not just that cheap equals good, it’s about what your money can get you in each segment. When consumers compare similar cars and the electric option is no longer a third more expensive, it’s becoming a much more appealing choice.”
Autotrader also looked at six months of finance quotes on its platform to produce average monthly costs per fuel type.
For EVs, the average was £475, whereas for ICE it was £483 – meaning electric cars are already £8 a month cheaper to finance. Add in running costs and the savings compound further.
With March being a crucial month for the UK car industry, which has to meet a ZEV Mandate target of 33 percent EV sales this year, an under-pressure car industry will be studying the Autotrader research with interest.
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