Car Cost Index 2022
LeasePlan has just released the latest edition of its Car Cost Index
Despite rising energy prices, EVs are more cost competitive than ever
LeasePlan has just released the latest edition of its Car Cost Index, revealing that EVs in nearly every segment and European country are now the same price or cheaper on a TCO (total cost of ownership) basis than petrol or diesel cars, despite rising prices for fuel and electricity.
The annual Car Cost Index is a comprehensive analysis of the total cost of owning and operating a car in 22 European countries, ranging from the sub-compact segment to the executive market.
Key findings from this year’s Index:
Despite energy price inflation, fuel costs remain significantly lower for electric cars than petrol and diesel cars: fuel costs represent 15% of the total cost of ownership of an EV, while this is 23% and 28% for petrol and diesel drivers
EVs in nearly every segment and European country are now the same price or cheaper on a TCO basis than petrol or diesel cars:
- Compact EVs are cost competitive in 18/22 European countries
- Standard mid-size EVs are cost competitive in 19/22 European countries
- Premium mid-size EVs are cost competitive 18/22 European countries
The average monthly cost of driving a car varies hugely across Europe – from CHF 894 a month in Greece to CHF 1,297 in Switzerland
There are more EV models on the market than ever before. The first Car Cost Index surveyed only 11 EVs, while this year’s edition includes 33 countries
LeasePlan is a global leader in Car-as-a-Service, with approximately 1.9 million vehicles under management in 29 countries. LeasePlan purchases, funds and manages new vehicles for its customers, providing a complete end-to-end service for a typical contract duration of three to four years. LeasePlan is committed to taking a leadership role in the transition to zero-emission mobility and has set itself the ambitious goal of achieving net zero tailpipe emissions from its funded fleet by 2030. With over 50 years’ experience, LeasePlan's mission is to provide what’s next in sustainable mobility so our customers can focus on what's next for them.