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Exceptional affordability of EV two-wheelers highlighted by Sunra study

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Exceptional affordability of EV two-wheelers highlighted by Sunra study

Following the completion of an internal study at Sunra UK, where the team set out to understand owner habits better in a climate where the cost of living is ever

Sunra Study Ev Two Wheeler Affordability

Following the completion of an internal study at Sunra UK, where the team set out to understand owner habits better in a climate where the cost of living is ever under scrutiny, the two-wheel EV brand is pleased to bring some encouraging findings, highlighting the exceptional value of small EV motorcycles and scooters in the process.

Conducted by the same team responsible for bringing the forward-thinking electric brand to the UK market, the group looked into rider habits, costs of ownership and comparable social spending habits, uncovering some interesting insights in the process.

Logan Black of Sunra UK commented, “It’s been interesting to learn more about the habits of our customers and at the same time look more at the affordability picture too. Not only do we understand our customer base better, but it’s been interesting to see how running and finance costs are considered alongside daily purchases, such as something as simple as a cup of coffee.”

In the study, the team looked at a variety of daily, weekly and monthly outgoing costs for typical users, understanding priorities and how users had rationalised their spending to fund or run an EV bike such as a Sunra.

Aside from looking at the cost of purchase, the team looked at the cost to recharge and run, providing very real-world insights into making the switch to electric.

Black continued, “Discussing how our customers use their bikes gave us a great insight into their habits, allowing us to look more closely into typical running costs. Based on an official government survey*, we were able to calculate 3300 miles as a typical yearly average for use in this segment, before looking at energy costs and real-world range to understand this better. Under current energy pricing, we found that an electric bike equivalent to a ROBO-S model can cost as little as £55 per year in electricity costs, or less than £5 per month for example.”

As well as looking at plug-in recharge costs, the team also considered general ownership, looking at finance too and comparable daily living allowances that customers make.

Looking at direct consumer outgoing comparisons further highlighted the low cost of ownership of two-wheel EV machines, with typical monthly payments*  half that of some rail travel cards, while even the comparison of a typical household outgoings, such as a satellite TV subscription were surprisingly similar too, with Sunra EV bikes available for as little as £77 per month, with sensible deposits.

“We were keen to make sure everything we looked at was comparable to real life”, added Black. “Finance is popular with our customers, so we looked at typical monthly costs based on our own program to understand comparable costs. The comparisons and consumer rationale, combined with impact in the rise of cost living, gave us some interesting insights that further demonstrate what exceptional value an EV two-wheeler brings.”

Typical Finance Examples:
Model: ROBO
Total deposit: £99
Regular monthly payment: £77.86
Term: 36 Months
Total price: £2,499
Total amount payable: £2,902.96
Total amount of credit: £2,400
Option to Purchase: £1.00
Representative APR: 10.90%
Interest charges: £402.96
Annual fixed interest rate: 5.6%pa

Model: MIKU SUPER
Total deposit: £499
Regular monthly payment: £97.33
Term: 36 Months
Total price: £3,499
Total amount payable: £4,003.88
Total amount of credit: £3,000
Option to Purchase: £1.00
Representative APR: 10.90%
Interest charges: £503.88
Annual fixed interest rate: 5.6%pa

Finance is provided by MotoNovo Finance Limited, One Central Square, Cardiff, CF10 1FS and is available to UK residents aged 18 years or older, subject to status. Terms and Conditions apply. 10.9% Representative APR. This is based on MotoNovo Finance’s average customer lending criteria. The Representative APR may not be the rate you receive.Rates are available from 10,9% APR based on a very good credit score. MotoNovo Finance will offer you a rate based on an assessment of your personal financial circumstances. Rates and payments will vary. The SUNRA dealer shall be a credit broker and not a lender for the purposes of this financial promotion. They can introduce you to a limited number of lenders and their finance products which may have different interest rates and charges. The SUNRA dealer may introduce you to MotoNovo Finance for SUNRA UK terms & may receive commission from them. Any commission percentage is unaffected by the amount you borrow, your credit score, or the length of the agreement.

Motonovo is authorised and regulated by the Financial Conduct Authority in  in respect of agreements regulated by the Consumer Credit Act 1974

Breyten Odendaal

Hello! I am a publisher for 3D Car Shows. Besides cars and automotive news, I am also interested in virtual reality, 3D modeling and animation.

Published : Thursday September 22, 2022

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