What If Every Car Was Electric?
Electric cars are often heralded as the future of motoring, as raw oil supplies dwindle and the cost of fuel at the pumps sky-rockets.
They are also praised for causing less damage to the environmental than conventional fossil fuel cars, as global warming becomes an increasing area of concern. This has led to the Government introducing a number of incentives to encourage green car adoption. But what would actually happen if every motorist did go down the electric car route?
We have crunched the numbers and found that the government would lose over £24 billion in tax every single year if every motorist in the UK opted for an electric vehicle. This biggest loss would obviously come from fuel duty, which makes up about 80% of this total figure.
The government would also lose approximately £4,861,220,980 from road tax charges and close to £37.5 million from car insurance sales, which are generally about 5% cheaper for environmentally friendly car owners through a number of motor insurance providers.
However the savings available to each individual motorist were slightly less substantial; with the average driver standing to reduce their overall annual motoring costs by £952:
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†82% of shoppers obtained a quote in 5 minutes or less. Source eDigitalResearch December 2012.