What's going on?

New data out on Tuesday showed that EV demand in the UK has moved into the slow lane.

What does this mean?

The UK�s bright green futuristic plans include banning sales of new gas-guzzling cars completely by 2030. Problem is, a couple of speed bumps might be stopping folk from jumping on the electric bandwagon. For one, the government announced last month that an EV-related tax exemption would be scrapped come 2025, a strange move given the country�s aspirations. And for another, green cars are still more expensive than their fuel-devouring rivals. It�s no wonder, then, that online car marketplace AutoTrader reported that EV demand is flagging, making up just under 20% of new car enquiries last month versus 27% in June. AutoTrader even put the brakes on its EV outlook, predicting that it�ll take till 2027 � not 2026 � for green vehicles to make up half of all new car sales.

Why should I care?

Zooming in: Spend more to spend less.
EVs might cost more upfront, but their owners see some serious long-term savings. According to car rental firm LeasePlan, it�s now cheaper to own and run a green vehicle than an old-school motor in almost every European country. That�s hardly a surprise, given that surging fuel prices mean you�d want to remortgage your house before refilling your tank. Still, you can�t blame cash-strapped households for picking the cheaper short-term option ��here�s hoping our grandkids forgive us.

The bigger picture: So much for �reduce, reuse, recycle�.
EV sales are on the up in the US, but there�s more to the story. See, manufacturing EVs is actually worse for the environment than making traditional cars, and they only become �green� when they�re driven, offsetting their production emissions with every mile. Trouble is, it turns out many households buying EVs already own one � and the more EVs you own, the less you tend to drive each one, essentially wiping out their eco advantages.