Are electric cars a good investment? Financial expert analyzes the current market situation

Are electric cars a good investment? Financial expert analyzes the current market situation

According to a report by www.lifepr.de,

The recently conducted representative survey by Civey on behalf of DEVK Versicherungen showed that the purchase price is the most important criterion when buying a car, regardless of the type of drive. However, electric vehicles are still significantly more expensive to purchase than cars with combustion engines. The survey also shows that many consumers have reservations about battery-powered cars. The government funding for company cars with electric engines expired in August, which has led to a significant decline in new registrations of electric cars.

For 75.4 percent of those surveyed, price is the most important criterion when buying a car. Almost one in ten Germans is planning to buy a car in the next twelve months, although only 12 percent of them would choose an electric car. The majority have reservations about electric cars, especially with regard to environmental friendliness, practicality and safety.

However, things have now improved in the market for electric vehicles. Lower purchase prices, longer ranges and better charging options are arguments that could convince consumers to buy an electric car. In addition, an analysis by strategy&, PwC's global strategy consultancy, predicts that electric car prices will fall in the next few years. From 2025, electric cars could probably be cheaper than combustion engines in all classes if you look at the overall costs.

In terms of running costs, such as expenses for electricity, maintenance and insurance, electric cars are already more attractive than combustion engines. Maintaining an electric car is less hassle and less expensive, and car insurance is usually cheaper for electric vehicles.

Based on these current developments in the car market, it can be expected that electric cars will overtake combustion engines in the medium term, especially with regard to overall costs and attractiveness for consumers.