Certain vehicles will see upfront costs fall (Image: Getty)
prices will “come down” ahead of the UK’s and car ban rules, according to motoring experts.
have predicted that over the next decade as the transition to zero-emission models takes effect.
Experts accept electric cars are “significantly more” costly than petrol and diesel models
and the are set to play a part ahead of the UK’s combustion vehicle ban.
Labour has promised to bring forward restrictions on the sale of brand new petrol and diesel models to 2030 which was a manifesto pledge.
Electric car prices could drop in the coming years (Image: Gettty)
said: “Electric cars are significantly more expensive than conventional ones at present, a situation that wasn’t helped by the end of the UK plug-in car grant, but the difference is narrowing.
“It can be difficult for manufacturers to turn a profit on some EVs but looking forward to the next decade, it’s possible that increased manufacturing volumes and economies of scale will see this improve and prices come down.
“We’re already seeing increased competition in the market and new brands arriving from China pushing the prices of EVs lower.”
According to , the average price of an EV is around £48,000 and £50,873.
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Meanwhile, a brand new medium-sized petrol car costs around £21,964, almost £28,000 less.
The UK’s Zero Emission Vehicle (ZEV) mandate could drive down fees force manufacturers to produce a certain number of electric cars per year.
The current target stands at 28% in 2025 with firms facing heavy fines for not meeting the goal.
This has led to a surge in new electric cars in the market, with more stock available than ever before, bringing down prices.
Early EV adopters are now ready to sell their vehicles, with the second-hand car sector gradually increasing.
Data from last year claimed the average three-year-old used EV in 2024 was 43.8% cheaper than the year before.
Analysis from the predicts that used EV prices are expected to drop by 28% between 2024 and 2030.
Dean Merritt, head of sales at Indicata UK, previously commented: “The good news is that consumer demand for used EVs continues to increase as prices get cheaper as they continue to find their feet in the used market.”