EV Buyers Are Mostly Public Sector, Based In Wealthy SE England

With Electric Vehicle (EV) ownership increasing as the 2030 ban on new petrol and diesel vehicles gets closer, new research reveals that EVs are most popular amongst drivers in Reading.

The research from MoneySuperMarket reveals the Berkshire-based town has the highest number of insurance enquiries for EVs than anywhere else in the UK, at 2,016 per 100,000 people in the town in the past year. This was 8% higher than Guildford (1,866 enquiries for every 100,000 people), which took second place.

Other locations featuring in the top 5 list were all in the Southern half of England, including Stevenage, Watford and Chelmsford. On the other end of the scale, EVs are least popular amongst drivers in Sunderland, with only 101 enquiries per 100,000 people in the past year. The research shows the wealth gap, or the North-South divide as it used to be called, is still very much there, despite claims of lvelling up by politicians. Fact is, lots of people in the Northern half of England, Wales and Scotland, cannot afford a pure electric car – they don’t earn enough.

Top 10 locations for EV enquiries per 100,000 people

 Looking at typical professions for EV drivers, 10.2% of all car insurance enquiries are for retirees, indicating that most EVs are owned by those no longer working. This is almost twice as much as NHS workers (5.9%), who are the second most likely to own an EV.

Over the last year, four-fifths (80%) of all enquiries for EVs were for vehicles worth over £20,000, while just 6.4% were for vehicles in the £5,000-£14,999 bracket. This puts the majority of EVs in the highest value band for car insurance. Despite the considerable cost of EVs, the data shows that three out of the 10 most popular occupations for EV drivers were from those who are not currently in work (retirees, students and homemakers).

Top 10 occupations by EV enquiry

When it comes to jobs it’s interesting that the retired  -presumably mainly on generous public sector pensions – are the biggest demographic group interested in EV cars. It also suggests that EVs are best suited to those who only use a car say 3-4 times per week, not daily, making multiple trips, thus flattening the battery faster.

Out of those in employment, the public sector occupations once again highlight how a generous salary of say £65,000 for being a PPE Procurement Manager enables you to drive electric, whilst an NHS Porter has to cycle to work, drive a 7 year old Peugeot diesel, or take the bus – assuming there is one at 5am.

Sara Newell, MoneySuperMarket’s car insurance expert commented: “It’s great to see electric car ownership on the rise as more people make the change from petrol or diesel cars. Electric cars and vans have often been more expensive  to insure than petrol or diesel vehicles because of the cost and availability of spare parts, and the common need for specialist repair works. But as more electric vehicles come onto the market, and with the government’s 2030 impending ban on new petrol and diesel cars, the cost of insurance is falling.

If you’re making the change to an electric car, make sure you use a price comparison tool, like MoneySuperMarket, to get the best deal on insurance.”