Germany has emerged as the cheapest country in Europe to own and maintain an electric vehicle (EV), according to a study by Leaseplan. The study found that the monthly costs of owning a premium midsize EV in Germany were €760 ($890), compared with €960 for a diesel and €878 for a petrol car. The costs of owning a compact EV were €618, compared with €735 for a diesel and €715 for a petrol car. The study also found that EVs were fully competitive with petrol and diesel cars in 17 European countries, including Belgium, France, Italy, the Netherlands, Norway, Spain, Sweden and the UK.
The Car Cost Index, which was used to calculate the figures, takes into account all costs incurred over the first four years of ownership, based on an annual mileage of 30,000 km. The study found that EVs were cheaper to maintain than petrol and diesel cars in all categories, including premium midsize, compact and small cars. The Volkswagen ID.3 was found to be the cheapest EV to own and maintain, with monthly costs of €576. The study also found that the costs of owning a car were highest in Switzerland and Portugal, and lowest in Denmark and Germany, relative to gross domestic product.
The study’s findings are significant because they suggest that EVs are becoming increasingly affordable for consumers, even in countries where they have traditionally been more expensive than petrol and diesel cars. The results also suggest that EVs are becoming more competitive with petrol and diesel cars in terms of total cost of ownership, which could help to accelerate the transition to electric mobility. However, the study’s authors noted that the results were based on an annual mileage of 30,000 km, which is higher than the average mileage in Germany of around 12,000 km. As such, the results may not be representative of all drivers.
Overall, the study provides further evidence that EVs are becoming more affordable and competitive with petrol and diesel cars, particularly in countries like Germany where the government has introduced incentives to encourage their adoption. As more consumers switch to EVs, it is likely that the costs of owning and maintaining them will continue to fall, making them an increasingly attractive option for drivers looking to reduce their carbon footprint and save money on fuel and maintenance costs.
