Yellow PHEV plugged in and charging at office

Electric vehicles now cost competitive

7 min to readResearch
LeasePlan has just released its annual Car Cost Index, with the latest analysis showing that electric vehicles (EVs) are now cost competitive in several European countries.
EVs are cheaper than cars with traditional powertrains in Norway, while in Belgium and the UK, the gap in the total cost of ownership is rapidly narrowing.

Latest findings from LeasePlan’s new Car Cost Index

LeasePlan’s Car Cost Index is a comprehensive analysis of the costs of owning a small to medium-size car (B&C segment) in 21 European countries. It factors in all costs that motorists incur in each country, including fuel, depreciation, taxes, insurance and maintenance.

Costas Petroutsos, Deputy Managing Director - Finance Director of LeasePlan Hellas, said:

“The good news is that electric vehicles are now a cost competitive option for drivers in several European countries. But this isn’t the case everywhere and Greece is one of the coutries where the gap needs to be reduced. Our Car Cost Index reveals that policymakers need to take action on key issues like vehicle taxation and charging infrastructure to make electric vehicles a viable alternative across the whole of Europe. We need to get started now. Electric vehicles are one of the best ways to combat climate change and everyone should be able to afford to go green.” Some of the key findings are:

The LeasePlan Car Cost Index 2017 is available to download at here.

Read more in our blog post on Medium Revealed: the true cost of driving The 21 countries included in the Car Cost Index are: Austria, Belgium, the Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, the Netherlands, Norway, Poland, Romania, Slovakia, Spain, Sweden, Switzerland, Turkey and the United Kingdom. The car models included in this analysis are: BMW i3, Ford Focus/Focus Electric, Hyundai Ioniq, Nissan Leaf, Opel/Vauxhall Corsa, Renault Clio, Renault Zoe, Smart Fortwo, VW Golf/e-Golf and VW Polo. Fuel costs are based on manufacturer fuel consumption data.

LeasePlan has committed itself to achieving net zero emissions from its total fleet by 2030. LeasePlan is also a founding partner of The Climate Group’s EV100 initiative, launched around the UN General Assembly in September 2017.

Total monthly cost of ownership, by country and fuel type:

Published at June 4, 2018
June 4, 2018