News Round-Up
9 May 2024
Demand for Electric Cars has Dried Up
9 May 2024
by Will Jones
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9 May 2024
Electric cars saw their market share plunge by a quarter in Britain last month, as hard-up customers shunned the high prices and soaring insurance costs.
Drivers of electric cars are being asked to pay more than twice as much for insurance as those who own petrol-fuelled models as EV premiums surge 50% in a year, data have revealed.
According to the Chef Exec of Thatcham Research, the motor insurers' research centre, electric cars may soon become uninsurable. The average EV insurance policy increased by 72% in the year to September.
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