The discounts offered on expensive electric cars in an extraordinary year were so enormous that it made cheaper brands look pricey. “Customers were being told 'you can have a 45-grand car for 33-35 grand'. We're sitting there with our 32-grand car, which all of a sudden looks horribly expensive,” Guy Pigounakis, commercial director at MG Motor UK, told Autocar.
Not all the push has been for EVs, though. Sales in general have been hit by the cost of living crisis, as higher interest rates drove up mortgage rates, hitting those coming out of fixed-rate deals. The former optimism that car buyers would be tempted into more expensive EVs by the overall lower cost of ownership has dimmed as the price of charging has risen while petrol costs have gone the other way.
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