Electric vehicles now represent 20% of all cars sold in Europe during the first four months of 2026, up 4 percentage points from the previous year. Rising petrol prices, up about 20% in the UK since January, have accelerated this shift as battery-powered cars become economically viable on their own merits.

Chinese manufacturers and European brands like Renault have introduced more affordable options, with the electric Twingo retailing for less than £20,000 in the UK. The average cost of battery electric vehicles fell 4% in 2025 as cheaper city cars entered the market, helping recruit a new segment of consumers.

The total cost of owning an EV has now often fallen below traditional cars. With off-peak charging rates, EV running costs can be as low as 2p per mile in the UK—just an eighth of petrol car costs. City cars benefit most, given their frequent use and shorter trips, making the economic advantage particularly pronounced for urban drivers.