Plug cheaper than the pump in the majority of European countries
LeasePlan has just released its 2021 Car Cost Index, which reveals that compact and mid-size electric vehicles (EVs) are now fully cost competitive with petrol and diesel cars across most European countries.
In the few countries where EVs are not yet cost competitive, the price gap between EV and diesel/petrol cars has narrowed significantly. If the trend continues, EVs will likely reach cost competitiveness in every country surveyed, including Eastern European markets such as Romania and Poland, by the mid-2020s.
LeasePlan’s annual Car Cost Index, now in its sixth edition, is a comprehensive analysis that reveals the total cost of ownership (TCO) of a car – including fuel/energy, depreciation, taxes, insurance, tyres and maintenance – in 22 European countries.
Key findings from the 2021 Car Cost Index
- The average monthly cost of driving a car varies hugely across Europe, from €743 a month in Greece to €1,138 in Switzerland
- Relative to GDP, the total cost of ownership is highest for drivers in Switzerland and Portugal, and lowest for drivers in Denmark and Germany
- Poland is the cheapest place to drive a petrol car, while Greece is the cheapest place to drive a diesel car
- EVs in the premium mid-size (D2) segment are fully cost competitive compared to internal combustion engine vehicles (ICEs) in 17 countries, including: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Norway, Portugal, Slovakia, Spain, Sweden, Switzerland and the United Kingdom
- EVs in the Compact (C1) segment are fully cost competitive compared to ICEs in 14 countries: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Sweden, Switzerland and the United Kingdom