Denmark is the fifth most expensive country in Europe to drive an electric vehicle
Taking all expenses into account, the average cost of a small or medium-sized electric vehicle (EV) is 6,705 DKK per month. That leaves Denmark in fifth place on the list of the most expensive European countries to drive an EV according to our new Car Cost Index 2019 that compares the total expenses of driving petrol and diesel cars as well as EVs in 18 European countries.
The analysis looks at the total cost of driving a small or medium-sized car on a three-year business leasing contract, driving 20,000 km per year. The analysis includes expenses such as repairs, maintenance, tires, depreciation, interest, insurance, tolls, VAT, and fuel.
According to the analysis, it is more expensive to drive an EV in Poland and Spain whereas the average EV is nearly 500 DKK cheaper per month in Sweden or Norway.
"The price gap between EVs and petrol and diesel cars is narrowing down when we look at all European countries. Unfortunately, it is still too expensive to drive an EV in Denmark. Politicians and people in the industry seem to agree that EVs are the future so now is the time to launch political initiatives that can help accelerate the transition towards EVs," says Michael Olsen, CEO of LeasePlan Denmark.
Over 50 percent EV depreciation over three years According to our analysis, depreciation makes 52 percent of the total EV expenses over a three-year period. According to Michael Olsen, this is due to the limited selection of EVs. However, he is expecting a wider selection in the coming years.
"EVs are better for the environment, but buyer options are currently very limited. EVs are also easier to maintain than fossil fuel cars. As manufacturers will be launching new entertaining EVs with an extended battery range in the coming years, making these an even better alternative, we do expect EV depreciation to drop," says Michael Olsen.
The 17 other countries in our Car Cost Index 2019 analysis are Austria, Belgium, Czech Republic, France, Germany, Greece, Italy, The Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Spain, Sweden, Switzerland, and United Kingdom.
Overview: The average EV costs per month in 18 European countries
Austria: €854 Belgium: €959 Czech Republic: €847 Denmark: €900 France: €806 Germany: €804 Greece: €656 Italy: €974 The Netherlands: €872 Norway: €833 Poland: €995 Portugal €833 Romania: €825 Slovakia: €834 Spain: €991 Sweden: €846 Switzerland: €858 United Kingdom: €676