Tesla stole the headlines with its price reductions at the turn of the year, but all the evidence is that almost everyone is following suit – albeit more discreetly.

Why? The cauldron of EV issues keeps bubbling. The energy crisis and relentless negativity about the charging infrastructure provide the base. Crashing – or, more fairly, correcting, because the sky-high figures of recent years could never last – residual values have added spice. Tesla’s new year price slash is the counterintuitive ingredient nobody predicted. Then there’s the cost of living crisis diluting new car demand just as factories ramp up output again. And now the flourish of the impending government mandate that will dictate 22% of all cars sold by a manufacturer are all-electric from next year, increasing thereafter.