90% of EV Drivers Experience Cheaper Running Costs Since Switching to Electric, Up From 85% Last Year

Key Highlights

• Cost savings: 90% of EV drivers report cheaper running costs compared to their previous petrol or diesel vehicles, up from 85% last year.
• High EV repurchase rate: 70% of drivers of new EVs plan to stay electric for their next purchase.
• Range anxiety remains a concern: 30% of EV drivers cite range anxiety as their biggest concern.
• Charging infrastructure and depreciation concerns: 18% and 20% of respondents, respectively, expressed concerns about charging infrastructure and depreciation.
• Growing EV demand: Demand, which is derived from ad views on-site, for both new and nearly new EVs (1-4 years old) has increased significantly compared to the previous year (62% and 70% YoY, respectively).
• Shifting market landscape: The Volkswagen ID.4 remains the most popular new EV, while the BYD Seal’s inclusion in the Top 10 reflects the growing diversity of EV offerings.

A new study by DoneDeal, Ireland’s largest car website, found that 90% of electric car drivers in Ireland have noted that their running costs are cheaper than their previous traditional petrol/diesel cars. This figure is up from 85% in November last year. Amidst the backdrop of a cost of living crisis, this highlights the potential economic benefits associated with owning an electric vehicle.

DoneDeal’s latest consumer survey reveals that 70% of new electric vehicle (EV) drivers in Ireland plan to buy another EV as their next car purchase. This finding highlights a growing commitment to electric mobility in Ireland, aligning with the country’s national climate action goals. DoneDeal’s latest insights show that the majority of new EV drivers don’t plan to revert back to traditional ICE (Internal Combustion Engine) vehicles and once a person drives a new EV, the majority are converted and don’t look back.

Of those surveyed that drive an electric vehicle, 30% noted that their biggest concern since purchasing an EV has been range anxiety. Range anxiety is defined as “worry on the part of a person driving an electric car that the battery will run out of power before the destination or a suitable charging point is reached.”

20% of EV drivers noted that the depreciation in value of electric vehicles is their biggest concern whilst 18% of respondents ranked the lack of charging infrastructure in Ireland as their primary worry.

In January, DoneDeal found that demand for brand  new electric vehicles is up 62% YoY compared to the same period last year. Demand for nearly new EVs, that is 1-4 year old models, increased by 70% YoY.

The Volkswagen ID.4 retained its position as the most popular new car on DoneDeal in 2024, continuing the dominance seen in 2023.  However, with Volkswagen recently launching the ID.7 as its new flagship EV in Ireland, only time will tell whether it will usurp the ID.4 from the top spot.

Furthermore, the inclusion of the BYD Seal in the Top 10 marks a significant milestone, representing the first time the model has achieved such recognition. This development reflects the increasing diversity of EV offerings at various price points and highlights the growing presence of emerging Chinese manufacturers in the Irish market.

Methodology

DoneDeal looked at ad view data for cars listed on DoneDeal  for the period from 2023 and 2024 to derive demand data. A survey of 1,269 car buyers on electric vehicles was conducted in February 2024.