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Want to buy an electric car for the holidays? What are the things you should consider?

2023-12-19 10:26:00Lifestyle SHKRUAR NGA REDAKSIA VOX

Want to buy an electric car for the holidays? What are the things you should

If you're considering buying an electric vehicle (EV) this year, you're part of a growing trend. Sales of electric vehicles are on the rise, forecast to capture 13% of the market share by the end of 2024 and 24% within three years. This is according to analysis by consumer intelligence company JD Power.

Their rise in popularity is clear: sales of electric cars accounted for over 8% of all new vehicle purchases through October, marking a significant jump from the 2.6% reported in 2020.

The Deloitte study points out that lower running costs are the main reason for people to choose electric cars, followed by a better driving experience, reduced maintenance hassles and climate change concerns. However, buying an EV can be expensive.

Five factors to weigh up before deciding on your Christmas EV purchase

Fluctuating charging cost

Both oil and electricity prices have experienced significant fluctuations in recent years, largely due to the Russian invasion of Ukraine, which disrupted energy markets.

Battery life and replacement costs

Maintaining an EV may not be as cost-effective as using a traditional gasoline or diesel vehicle. Replacing essential components, especially batteries, can be quite expensive.

Higher insurance costs

Over the past year, car insurance premiums, like many other goods and services, have risen significantly.

Price of home charging equipment

The price of home charging equipment represents an important aspect of purchasing an electric car because of the convenience it offers.

Value after resale

Selling your EV, especially if you're considering an upgrade, can present challenges in navigating the short-term market. However, as the adoption of electric vehicles expands, the market for used EVs is expected to grow in parallel.


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