Electric cars are now cheaper than petrol models on average for the first time, as discounts and demand increase, according to Auto Trader.
Based on advertised prices after discounts, the average new electric vehicle (EV) costs £42,620 compared with £43,405 for a petrol model, a £785 difference in favour of electric.
The shift has been driven by sustained manufacturer discounting and Government support, which have narrowed and now reversed the traditional price gap between fuel types.
Average discounts on new EVs eased slightly from a record 12.8% in March to 11.7% in April to date, but remain historically high.
Across the wider market, discounts averaged 10%, compared with 8.7% a year ago.
Most in-demand new car electric brands on Autotrader in April 2026 ranked by enquiries/leads
| Rank | Make | Share of enquiries |
|---|---|---|
| 1 | MG | 11.70% |
| 2 | Renault | 7.50% |
| 3 | Kia | 7.30% |
| 4 | Leapmotor | 6.10% |
| 5 | BYD | 5.40% |
| 6 | BMW | 4.80% |
| 7 | Vauxhall | 4.80% |
| 8 | Skoda | 4.10% |
| 9 | Audi | 4.10% |
| 10 | Hyundai | 3.70% |
Consumer interest in EVs continues to increase
Improved affordability has coincided with rising consumer interest.
Visits to Auto Trader’s new car platform are up around 20% year-on-year in April so far, supported by the arrival of ‘26 plate’ models and stronger pricing.
Retailers have responded by increasing supply, with the volume of new cars advertised on the platform up 13% over the same period.
Among brands, MG led EV demand in April, accounting for 11.7% of enquiries, followed by Renault and Kia.
Renault 5 most in-demand EV
At model level, the Renault 5 E-Tech Electric was the most in-demand EV, ahead of the Jaecoo 5 and MG S5.
Across all fuel types, the Volkswagen Golf remained the most in-demand model, while Chinese-built vehicles continued to gain traction, accounting for more than half of the top 10 models in April.
At brand level, BMW ranked as the most in-demand overall, ahead of MG and Land Rover.
Bex Kennett, head of new car at Auto Trader, said: “The electric car market is becoming increasingly competitive, and despite the challenges created by the ZEV mandate, manufacturers and retailers have worked hard to improve both the supply and affordability of new electric vehicles.
“Support such as the Government’s Electric Car Grant, alongside historically high levels of discounting earlier this year, has brought EV prices to a point where they are now, on average, cheaper than petrol cars.
‘At the same time, broader geopolitical uncertainty – including the situation in Iran – has pushed fuel costs and energy security back to the front of buyers’ minds, driving a noticeable uptick in interest in both new and used electric cars on our marketplace.
“While past spikes in EVs haven’t always translated into sustained purchasing, this combination of improved affordability and shifting attitudes towards the cars, presents a real opportunity to accelerate the switch to electric.”
Vicky Read, Charge UK chief executive, said: “Another barrier to EV adoption just fell.
“On the vehicle side, up-front cost for consumers has been well addressed through the Government grant and dropping prices.
“On the charging side, if you can charge at home, it has long made more financial sense to go electric. The final hurdle is public charging.
“As petrol prices are soaring due to global volatility, the Government has an opportunity to bring down public EV charging prices, which have been pushed upwards by policy.
“Making lower cost, cleaner driving affordable for everyone, including the third of households without driveways, unleashing more EV sales to meet the automakers’ quotas.”