Why I’m Shunning the Electric Car and Keeping My Petrol Car Amidst an Economic Crisis
In recent years, the automotive industry has seen a significant shift, with increasing emphasis on green initiatives and carbon-neutral goals. As part of this evolution, electric cars, or rather, electric vehicles (EVs) are gaining unprecedented attention. Government incentives, emissions restrictions, and the looming ban on new petrol and diesel cars are all intended to push us towards the adoption of EVs. However, amidst these significant shifts, there are numerous valid reasons, both practical and financial, that make the transition to an electric vehicle seem premature, especially during a period of economic crisis. We’ll dive into these topics and at the end I’ll share a link to a video that discusses Rowan Atkinsons recent article about EVs.
The Green Push and Economic Strain
A clear frustration shared by many drivers is the implementation of congestion charges, low emission zones, and clean air zones in many UK cities. While the objective of these initiatives is to reduce pollution and encourage sustainable forms of transport, they often come across as punitive to drivers who cannot easily switch to electric cars. The cost of these charges can tally up to an almost £400 a month, a significant expense for many people.
In such times, car lease companies offer a tempting alternative: electric vehicles for lease at similar prices to the monthly Clean Air Charge. However, leasing is not an attractive prospect for everyone. If you’re accustomed to owning your car outright, leasing can feel like a downgrade. Moreover, it essentially entails long-term car rental, with the vehicle still not owned at the end of the lease. You’re essentially being forced into paying hundreds of pounds a month for the privilege of driving in big cities – whether you drive your current petrol or diesel car and pay the Clean Air tax or you use that money to lease (not own) an electric vehicle.
These challenges, paired with the ongoing economic climate marked by high inflation and rising interest rates, put an undeniable strain on many households. The cost of living crisis is tangible, impacting daily life from grocery bills to energy costs. The irony lies in promoting electric vehicles while still relying on coal and other polluting sources for electricity generation. It’s a complex issue requiring a comprehensive approach.
Ten Reasons Why I’m Sticking to My Petrol Car over an Electric Car for Now
Given the economic turbulence and the multiple challenges surrounding EVs, here are ten reasons that make the shift seem unattractive for the time being:
- Upfront Costs: Even affordable electric cars come with substantial price tags. In an economic crisis, the idea of assuming hefty car payments or emptying savings to purchase an EV outright is intimidating. https://www.cnet.com/roadshow/news/the-most-affordable-electric-cars-for-2023/. In the current economic climate this is out of reach for many families especially when the average EV price far exceeds the average household annual income. And being forced into a 3 year lease scheme is not ideal for everyone.
- Depreciation and Uncertain Resale Value: The constant technological advancements in the EV market might render today’s models obsolete, raising uncertainty around their future value. In times of financial restraint, this investment seems risky. Recently the depreciation of electric vehicles has been extraordinarily high thereby making the lease option the only viable one for users. How long this will remain a sustainable business model is anyone’s guess. In contrast since 2020 many petrol and diesel second hand cars have either kept their value or in some cases appreciated.
- Charging Infrastructure: A lack of extensive, reliable charging infrastructure remains a significant concern. Being stranded with a depleted battery is a risk that seems unaffordable in current circumstances. There’s no doubt it is growing and the availability is increasing, but it’s not quite there yet.
- Home Charging Installation Costs: The cost of installing a home charging station, though beneficial in the long run, is an additional expense that’s difficult to justify amidst an economic crisis. Eon Energy currently charge just below £1000 for an installation.Electric vehicles require hours to fully charge, even with a home charging station. If you’re reliant on your car for daily commuting and errands, being without your vehicle for such durations seems impractical.
- Limited Range: The range of affordable EVs is still less than their petrol counterparts. The idea of continually having to plan life around a car’s battery life is daunting. the technology needs to improve before I jump onboard.
- Battery Replacement Costs: The battery of an electric car doesn’t last forever. The cost of replacing it, running into thousands of dollars, is a financial responsibility many are unprepared for. This reason alone is enough to deter one from ever wanting to own one outright, pushing you again into the lease only scheme.
- Lack of Choice: The variety of electric cars, though improving, is still limited. Specific needs and preferences should not need to be compromised for the sake of going electric. Already vehicle manufacturers like KIA and VW are cutting EV manufacturing, thereby reducing the choice and availability.
- Reliance on the Power Grid: The possibility of utilities becoming unstable in an economic crisis is a valid concern. Solely depending on electricity for transport, which might not always be available or affordable, is unnerving. Although not an issue in the UK (yet) I could not imagine how a country like South Africa that experiences electricity shortages of up to 8 hours daily could successfully introduce EVs to their market. Similarly many countries around the world have similar electricity supply issues.
- There is possibly better technology and better solutions on the way. These include Hydrogen based cells that weigh half that of EV batteries and may soon become a viable technology for vehicles like tractors and trucks from which it can springboard to buses and eventually smaller vehicles. Another alternative is synthetic fuel that is going to be trialled in Formula One racing in the coming years. This is expected to have a zero carbon emission and could be a real game changer allowing existing cars to run cleaner. After all, the problem is with the fuel, not the engine.
- Environmental Impact of Battery Production: While driving an electric car is unquestionably “greener” than driving a petrol car, the energy-intensive production of electric car batteries carries a significant environmental impact, as opposed to my already manufactured vehicle.
There is also the issue of recycling and ‘second life’ repurposing of batteries, which is still in its infancy stage. We’re only just past the 10 year mark from when the first mass produced EVs first hit the market, so there’s no long term studies or evidence as to the impacts on the environment and the outcomes of recycling efforts. This leads many to question the overall environmental benefits of making the switch. Personally I’ll rather wait and see.
Geoff Buys Cars, a motoring channel on YouTube created an excellent summary of Rowan Atkinsons article in the Telegraph, which makes some excellent points. And before you ask, “what does Mr Bean know about cars?” he has a Masters degree in Electrical and Electronic Engineering, coupled with him being a well renowned car enthusiast.
watch Geoffs Video by clicking the following link : https://youtu.be/Yiga3atlTRs
While understanding and appreciating the push towards electric vehicles, the harsh realities of owning one amidst an economic crisis make it an impractical choice for the majority of people. Systemic changes are needed to make the transition to electric cars or even better technologies affordable and accessible for everyone, without disproportionately burdening individuals, especially those struggling financially.
In the meantime, there are other ways to mitigate the impact of these changes. Carpooling, a push to improve affordable public transport, cycling, or walking for shorter trips could be viable alternatives. However, until more substantial systemic changes are made to address the cost and infrastructure challenges, the decision to stick with a trusty, paid-off petrol car might be the most sensible choice for many during these challenging times.
