74 plate EVs have never been more affordable – and there are great deals to be had on used EVs too!

As more and more new 74 plate cars hit the road, Anthony Rockingham, managing director of Croxdale Group Durham, explains why there has never been a better time to buy an electric vehicle.

New 74 registration plate sales are continuing to rise, as more and more people demand the latest vehicles registered from September 2024 at the start of a busy new quarter for the automotive sector.

With both brand new and used vehicle sales, what we are noticing at Croxdale Group is the way the Government’s Zero Emission Vehicle (ZEV) mandate is making electric vehicles more affordable than ever.

In fact, there has never been a better time to buy an electric vehicle – and anybody who has been thinking of doing so for some time might want to strike now while the iron is hot!

What is the ZEV mandate and why is it pushing prices down?

The ZEV mandate is aimed at increasing the number of electric vehicles (EVs) on the road and reducing carbon emissions. It has seen car manufacturers given specific targets, requiring a certain percentage of the vehicles they produce and sell to be zero-emission vehicles (ZEVs), such as electric cars and hydrogen fuel-cell vehicles.

These targets have increased each year, pushing manufacturers to produce more electric vehicles to comply with the regulations and avoid financial penalties. As manufacturers have ramped up EV production, the result has been innovation and efficiency in the manufacturing process – as well as prices being driven down.

Why the time is now to switch to an EV.

As the new 74 registration plate has come out, manufacturers continue to push EVs heavily, making it an extremely competitive option for those considering a new car purchase.

It’s become apparent that market demand for EVs in the first half of 2024 hasn’t kept up with production, so there’s an over-supply in the market. This means that for the first time, EVs are now more affordable than an ICE [Internal Combustion Engine] vehicles.

Across MG and all of the Stellantis brands we specialise in at Croxdale Group, which include Vauxhall, Peugeot, Citroen, DS, Alfa Romeo, Jeep, Fiat and Abarth, there has never been a better time to buy electric. Consumer confidence is growing, the infrastructure is getting better and for those who can charge their car at home, it’s currently the best option when it comes to choosing a new or used car.

At Croxdale Group, we can arrange for your charging infrastructure to be installed at home too. Most of our offers come with a free home charger - or a contribution towards it - and we arrange everything from here. ?

Why you should move quickly on your EV purchase!

Once the current over supply of EVs is under control, prices will start to increase again, as the incentive to move these cars will be a lot less, so if you were thinking of making a new car purchase in the next six to 12 months, you might want to move quickly!

With EVs, the stigma used to be the price. But you can now get a new electric car for under ￡20,000. At Croxdale Group, you can drive one away for under ￡300 per month with no deposit, for a vehicle that will give you a range of over 200 miles. There are some great finance initiatives that make them very affordable.

If you purchase an EV from us, you will immediately begin to benefit from the fact they are so much cheaper to run.

I can honestly say that my fuel bill has been cut in half since I switched to an EV. I can charge at home at a competitive price - and even these rapid chargers on the roadside aren’t as expensive as petrol when accounting for how many miles you get for the price. They are still a lot more competitive than the pumps!

EVs keep maintenance costs down too – and they’re great to drive.

Cheaper running costs are not just reflected in reduced fuel and energy costs. They are a lot more economical – not just from the perspective of avoiding the pumps, but in terms of ongoing maintenance. The electric motor is part of a sealed unit rather than an ICE vehicle that requires oil changes and lubricants. The brakes also need replacing less frequently due to the regenerative breaking.

I know from personal experience that electric vehicles are great to drive too, as well as the fact they have never been so affordable.

EVs are also automatic and for anybody that hasn’t considered an automatic vehicle, this is the time. The response time to pull out at a junction or to overtake makes you feel more confident and safer on the road.

EVs are also quieter and smoother. I’ve never come across anybody who has said they don’t like the way an EV drives!

Come and talk to us, whatever your needs.

If you are in the market for a new car at the present time, you should definitely consider electric.

Of course, some people aren’t ready for the EV transition and as with all purchasing decisions, it comes down to what suits people’s lifestyle and personal preference.

Come and chat to us about your specific requirements.

For more information, visit us at Croxdale Group Durham on the A167, or check out our website, www.croxdalegroup.com home of Stellantis brand vehicles and MG in Durham.