Car Cost Index

October 28, 2021

Electric cars are now cheaper than petrol- and diesel cars in the majority of the European countries – Sweden has the third lowest total cost

LeasePlan Sweden are now sharing their key insights from Car Cost Index 2021, a European study that compares how the total cost of cars with different propellants differ between European countries. The index shows that small to medium sized electric cars now has a lower total cost than petrol- and diesel cars, in the majority of countries. In Sweden the total cost to own an electric car is the lowest in Europe, after Germany and Greece. 

LeasePlans annual car-cost-index is published for the sixth time and contains an extensive analysis of the total cost (TCO) of owning a car, which includes fuel/energy, depreciation, taxes, insurance and maintenance, in a total of 22 European countries. Sweden stands out as one of the countries where it is most cost-effective to choose an electric car. In Sweden, the total cost of owning an electric car, is the lowest in Europe, after Germany and Greece.   

  • It is joyful that Sweden ends up at the top of the list. At the same time, we shall remember that there is a lot left to do in Sweden to further promote the transition of both companies and individuals to electric cars. For example, our latest survey among Swedish company-car drivers shows that only 2 percent thinks that there are sufficient charging stations in Sweden and only 12 percent thinks that the government does enough to promote the transition, says Malin Malm, Commercial Director at LeasePlan Sverige. 

    Malin Malm continues,

  • The drivers are also critical of the expansion of charging stations around Europe, only 12 percent would feel comfortable to do a longer roadtrip in Europe considering the range and number of charging stations along the roads.

Key insights from the study

  • The average cost to own a car differs a lot between the countries in Europe. From 743 € per month In Greece to 1 138 € in Switzerland. In Sweden, the average cost is 889 €, just below 8 900 SEK.
  • In Poland it is cheapest to drive a petrol car and in Greece it is cheapest to drive an electric car.
  • Electric cars in what is called the premium mid-size-segment (D2) such as Polestar 2 and Mercedes EQA has a lower total cost than petrol- or diesel cars with a combustion engine in 17 of 22 countries surveyed, including Sweden. (See list below)
  • Smaller electric cars in what is called the compact-segment (C1) such as Volkswagen ID.3 and Kia Niro, has a lower total cost than petrol- or diesel cars with a combustion engine in 14 of 22 countries surveyed, including Sweden.

Total cost for owning a car in the D2-segment

 

About the study  The 22 countries that are included in the study are: Austria, Belgium, the Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, The Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Spain, Sweden, Switzerland and The United Kingdom. The total cost is calculated as an average during the first four years of ownership and assumes an average of 30 000 kilometres driver per year.