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Drivers considering the benefits of switching to an electric or hybrid car

By Craig Perry
22nd November 2023

Almost one in five people are considering switching their car to an electric or hybrid car in next 12 months

  • Three in five motorists (60%) support Government’s decision to push the ban on new petrol and diesel cars back to 2035.
  • 10% of motorists say they made the switch last year from a fossil fuel car to an electric or hybrid model.
  • 85% of motorists who have already made the switch to an electric or hybrid car say they have reduced their annual motoring costs as a direct result.

New research1 from The Green Insurer, the UK’s first green car insurance broker, reveals that 18% of motorists are considering switching their petrol or diesel car to an electric or hybrid model over the next 12 months. That figure increases to 31% in London, where almost one in three say they are thinking about switching their fossil-fuel powered vehicles for a hybrid or electric version over the next year.

The desire by many motorists to move towards a cleaner, electrified future by the end of 2024 is in spite of the Government’s recent decision to push back the ban on the sale of new petrol and diesel cars to 2035. The decision to delay the ban was backed by 60% of the survey’s respondents.

However, there exists a clear divide in opinion between the age groups, with 69% of people aged 65 and over agreeing with the ban’s delay compared with 51% of people aged between 18 – 34 years. This discord is further highlighted by over a quarter (28%) of 18 – 34 year olds surveyed seeing the Government’s delay to be a backward step, compared with just 16% of people aged 65 and over.

The anticipated ban on new petrol and diesel car sales was not seen as the main motivation for the majority of the 10% of motorists surveyed who made the switch to an electric or hybrid car last year, with only 13% of these citing the ban as the main reason behind their environmentally friendly purchase.

Despite the higher upfront costs associated with the purchase of an electric car, of those owners who have already made the switch to cleaner fuel, 85% claim to have saved money on their annual cost of driving as a direct result of having switched to an electric or hybrid car, with 31% describing the savings as “substantial” and 54% saying they have made “slight savings”. Only 3% believe their motoring costs have increased as result of the switch.

Paul Baxter, CEO, The Green Insurer, said: The decision to delay the ban on new petrol and diesel cars until 2035 elicited a variety of responses, amidst concerns that the delay would not only perpetuate the use of fossil fuel consumption, but also may deter investments in electric vehicle development and infrastructure. However, the findings of our survey support our belief that the desire to transition to more eco-friendly practices is being driven by consumers themselves and not by the threat of legislation.

We are seeing a genuine desire in people to reduce their individual environmental impact through lifestyle and purchasing choices. We have looked to reflect this cultural shift in our newly launched car insurance policies, which have been designed to reward people for the positive adjustments in the way they drive and use their car in an environmentally responsible way.

  • [1] Independent consumer research conducted by Viewsbank among a nationally representative sample of 1,135 adults aged 18-plus including 888 car owners between November 17th and 20th 2023.