I think there is still some way to go.
Many people I work with are happy spaffing £400 a month on a PCP.
As it happens most are coming to the end of their current deals and looking to replace. despite Having tipped up £16k + a deposit to borrow a car over 4 years they they are inexplicably to me, keen to start again.
4 years ago that Mature EVs we see now didn't really exist or were very new so they're mostly driving ICE, or Mhev.
A fair number of them are now looking and are quite excited by EVs. Those with range anxiety have been buoyed by the experience of one colleague who has a motorbility EV and no home charger.
I think there is still some of the main market earlyish post early adopter market to go before you get to the reluctant adopters and the. the resistant adopters.
At this time while I'd love an EV the they not available to me. While I could afford to go and drop £5k deposit and £350 pcm PCP I just don't see the value. My next car will probably be a high milage 2018-2019 model because of that it'll be ICE. The car after that will likely be a 225-26 plate in about 6-8yrs time. Hopefully then we will know how they're performing in the longer term older vehicle markets window. Essentially what range is the battery still giving, are replacement batteries sensible, how is the EV drivetrain working.
The local clutch and gearbox specialist has just started doing EV Motor repairs, apparently there are a few suffering bearing failures in the motor / drive train areas.
There's always going to be people who pay silly money for things they own.
However, there are EV leases which are £2,000 up front and £144 a month for 8,000 miles a year. That's works out at 34p a mile in payment costs.
Even with public charging at the same cost per mile as petrol/diesel for someone doing 8,000 miles a year they could own a car for the following number of years for a given price (note that this is the cost of ownership and not the purchase price, but may include repairs - something which is less likely with a new car) based on the cost of ownership being 34p a mile:
£15,000 for 5 years 6 months
£12,000 for 4 years 5 months
£10,000 for 3 years 8 months
Whist that's not as long as some keep their cars, it's around the length of time that cars on average are owned for (although this is often a case of an average of around 3 years on lease and 6 years on ownership )
If you can do home charging that 34p can fall to 24p a mile and that starts to change the maths:
£15,000 for 7 years 9 months
£12,000 for 6 years 3 months
£10,000 for 5 years 2 months
Given that's not factoring in other things, lower maintenance costs, likely breakdown cover being included.
Likewise, interest payments, either as an outgoing on a loan or for an income for those who buy cars in cash on savings which they can hold on an account for longer.
For example, someone who pays £12,000 for a car but then pays out £5,500 for 2 years of "ownership" through a lease has at least £6,500 in savings would earn over £260 over that 2 year period with an interest rate of 2% (more as some of that £5,500 could be in the savings account for all of the 2 years, so likely over £300).
£320 in income from savings would reduce the per mile cost by 2p, which doesn't sound much but puts it at 22p and so £15,000 is then 8 years 6 months.
Obviously there's a risk that lease prices increase in 2 years time, however could mean that there's more reasonably priced EV's available.
Conversely at a little over £16,500 for a 2 year old car, would be 34p a mile (no fuel savings) if you kept it for 6 years (end of battery warranty) it failed 1 day after the warranty and was worth nothing (both are highly unlikely):
2024 Vauxhall Astra Electric for sale in SALISBURY, WILTSHIRE from Penton Citroen, MG, Peugeot & Vauxhall Salisbury - Find your perfect car today with Autotrader
www.autotrader.co.uk
If it lasts for 10 years until it has 100,000 miles on the clock and it still went to having a value of £0 (a much more likely outcome, but still unlikely) the cost per mile falls to 20.6p (again no fuel savings).
If 80,000 is done (10 years of 8,000 miles a year)at circa 5p a mile (EV, mix of at hime and public chargers) vs circa 15p a mile (ICE) that's £8,000 off the purchase price due to fuel cost savings.
That's for a car which can do over 250 miles rated (so maybe 140 miles usable, even if the battery has degraded to 80%).
As a comparison that would mean buying a car like this:
2019 Vauxhall Astra for sale in NEW SOUTHGATE, BARNET from Car Planet Barnet - Find your perfect car today with Autotrader
www.autotrader.co.uk
I'm sure that's a reasonable car, but it being 7 years old and having 56,000 miles on the clock means that it's gong to be 17 years old with 136,000 miles on the clock 10 years time, as such may well have a greater risk of breakdown or general maintenance requirements
(for example the timing chain is recommended to be inspected by a mechanic at 80,000 to 100,000 miles, so there's a risk that it could need replacing).