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Electric vehicles are more cost competitive than ever

2 min to readTCO
LeasePlan has just released the seventh edition of the Car Cost Index, which revealed that electric cars (EVs) are more cost competitive than ever before. The Car Cost Index analyses the total cost of owning and operation a car (TCO).
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This year's Car Cost Index reveals 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. In the seventh edition

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 are the best way to protect drivers from skyrocketing fuels costs. Unfortunately, governments are pulling the plug far too early on EV incentives, even in countries with ambitious zero-emission targets. This ‘ban without a plan’ attitude will have disastrous consequences for the fight against climate change. We need consistent, long-term policies that will ensure going EV is the common sense choice for all drivers.

Tex GunningCEO, LeasePlan

Notes on the index:

posted on December 13, 2022 by Joel Wetterhahn in TCO
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International Fleet Consultant
December 13, 2022
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