New cars: Watch out for these depreciators or lose out
22 Feb 2012
Although they are only just beginning to catch on, electric cars have been in existence for more than 100 years. They were common in the 1890s through to the early 20th century, but the subsequent invention of the internal combustion engine and oil-powered vehicles halted their progress.
However, electric cars never died out and are increasingly making a comeback thanks to growing concerns about the havoc being caused to the environment by over reliance on fossil fuel, which is used to power the bulk of today's cars.
Unlike fossil fuel-powered cars, electric vehicles get their power from electricity, which is stored in on-board chargeable batteries or other storage devices after being charged in essentially the same way any other electric appliance would be charged. Electric motors draw the stored energy and convert it to automotive power, allowing the car to move.
However, electric cars still face a big challenge, with overall cost and the range covered being two of the most pressing issues. Although prices are falling, electric cars still cost significantly more than their conventional counterparts due to their expensive batteries.
And there is still not enough infrastructure (public and private charging points) to make more people comfortable enough to choose them. The underlying fear for naysayers is that they could run out of power before they reach their destinations and not find a place to top up - a phenomenon known as range anxiety.
But several countries, including the UK, are coming up with measures to both advance the technology and encourage take-up among consumers. From January 2011 UK motorists have been receiving a grant of 25% up to a maximum of £5,000 towards the purchase of certain ultra-low emission cars - including electric vehicles.
