The Global Market for electric vehicles is continuing to grow exponentially. A large part of climate pollution comes from transportation and more and more people are looking to electric vehicles in an attempt to make our roads as clean as possible. Here in Ireland, according to the Society of the Irish Motor Industry, 15,591 new electric cars were registered in 2022, that’s an increase of 83% since 2021. In November, 343 new electric vehicles were registered compared to 190 in the same period last year.
We conducted a survey* in partnership with TheJournal.ie to find out how people feel about electric vehicles and whether they’re on the cards for them in the near future. The first thing we wanted to establish was how many of those surveyed are driving electric cars in comparison to petrol or diesel cars.
A whopping 74% of those surveyed drive a petrol or diesel car, 8% revealed that hybrid is the way to go, and just 2% are currently driving an electric car. This points to a lack of drivers with electric vehicles, despite ongoing efforts to promote their usage. However, these numbers are likely to change in the next few years. There are several strong reasons why you might purchase an electric vehicle as your next mode of transport. We asked those surveyed what the main benefits behind investing in an electric car would be.
In an encouraging insight, 26% of those surveyed listed environmental reasons as the main benefits behind a potential decision on an electric vehicle. 27% listed the cost saving aspect of fuel and while 43% aren’t currently in the market for a new car, it’s uplifting to know that the environment is on people’s minds. Similarly, it’s important to look at the reasons why people might be turned off the idea of an electric vehicle. We asked about the main drawbacks behind going the electric or hybrid route.
Purchase cost was a standout in terms of reasons not to with 39% of those surveyed admitting to having concerns about it. It’s important to note that the emphasises that people should consider the overall cost of ownership when it comes to electric vehicles. Government grants and VRT reduction do help to reduce the cost of purchasing a new EV but the real savings are in the running costs, maintenance and fuelling, so that’s something to bear in mind.
We can also see some range anxiety coming through, with 34% of those surveyed chalking it up to the limited battery life or needing to charge the battery as being a major concern. With Allianz Electric Car Insurance you can add breakdown assistance** to your policy which covers you even if you run out of battery. They will cover the cost of towing your car to the nearest charging point or your home charging point, whichever is nearest –which should eliminate the range anxiety which so many people worry about.
Sustainability is extremely important for all of our futures, and we expect the interest in electric vehicles to continue to rise. It’s important to feel protected when making a decision such as this, and that goes for the car insurance you choose too.
At Allianz, we offer cover for electric and plug-in hybrid electric vehicles that’s designed for the future – believing that when people make the commitment to be more energy efficient, we should make it easy for them to get the cover they need. From flexible cover, to breakdown assistance and cable charge cover, Allianz has everything you need to make the switch to an electric vehicle and start planning for the future.
*Three question poll conducted for Allianz & TheJournal.ie by Ireland Thinks. Date of Survey: 1st to 2nd December, 2022. Sample size: 1,352. Margin of Error: +/- 2.7 per cent.
** Breakdown assistance is an optional extra and an additional premium applies.
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