If the Conservatives are hoping to get re-elected next year, they may have to rethink their policy of banning the sale of new petrol and diesel-powered cars by 2030. Electric cars are proving to be an unmitigated disaster! Almost daily, stories emerge about just how terrible they are, and not just for making journeys. The ideology of Climate Change eclipses the practical difficulties and here is an example of how this venture costs money.
Some electric cars are losing their value twice as quickly as petrol alternatives. Drivers have been pushed towards these vehicles by a string of Government initiatives, which are intended to help the country become “Net Zero” by 2050. However, motorists risk losing thousands of pounds more than those who stick with petrol. Take the illustration of a car buyer who bought an electric BMW in 2020, who would have paid £39,000, and if sold today would cost £13,900, a depreciation of 64%.
By comparison the petrol equivalent has maintained much more of its original value. A new petrol-powered BMW 3 Series cost £32,000 on average three years ago, but would sell for £22,360 now, a smaller drop of 30%. Thousands of free electric car chargers have been pulled from Britain’s roads over the past year as soaring energy costs make them unaffordable. Call it Carmageddon!
The cost of going Green is not economically viable, but the propaganda drones on through lies and deception. If this squandering of public money was ditched, coupled with the abandonment of Net Zero by 2050, along with affordable tax cuts, things could become much better for hard-working Brits!
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