Electric car. Figures that confirm LeasePlan’s competitiveness

According to the latest edition of long-term leasing company LeasePlan’s Car Cost Index, in terms of total cost of ownership and use, electric cars are now equal to or even better than diesel or gasoline-powered thermal models in Europe. Detailed view.

has been published 14/12/2022 – 15:26

According to LeasePlan, battery electric vehicles (BEVs) require a larger initial investment but have lower running costs.

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According to Tex Gunning, CEO of LeasePlan, “It represents electric vehicles the best way to protect drivers from fuel costs. Unfortunately, even in countries with ambitious zero-emission targets, governments are too quick to end incentives for electric vehicles. This approach to bans without any planning will have disastrous consequences in the fight against climate change. We need sustainable long-term policies that make going electric a no-brainer for all drivers.”

More and more affordable electric cars

A long-term rental specialist has published its publication Car price index 2022, As every year, it studies the total cost of owning and using a car in 22 European countries, from the city car segment to the long-distance car segment. As a lesson: if electric vehicles had confirmed their economic attractiveness in the face of heat since 2019 during previous studies, they fully establish their competitiveness this year. Note that this is considered to be the case when the total cost of ownership of an electric vehicle is within ± 5% of the total cost of ownership of a thermal vehicle. Despite energy inflation, electric cars have never been more affordable under LeasePlan in almost all segments and in most European countries. They are the same price as diesel or petrol cars, if not lower.

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Car models used in the Car Cost Index 2022 are classified by segment

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According to the lessor, “The fuel costs of electric cars remain much lower than gasoline and diesel cars. Fuel costs account for 15% of the total cost of ownership (TCO) of an electric vehicle, compared to 23% for a petrol car and 28% for a diesel car”. And to add: “There are more electric car models on the market than ever. The first Car Cost Index listed only 11 electric vehicles, but this year’s edition has 33.

Average total cost of ownership by country and segment

In the compact category (Renault Megane or Peugeot 308-type C1 and SUV-C1), which is very popular among motorists, the survey shows the competitiveness of electric cars in 18 out of 22 European countries. For example, there is in France 753 € for using a “zero emission” car, against €961 for the plug-in hybrid, €904 for the diesel and €868 for the petrol. This is also the lowest. On the other hand, regarding city cars (Volkswagen Polo or Peugeot 208 type B1 and SUV-B1) only 9 out of 22 countries accept it. See the comparison charts below.

Electric car. Figures that confirm LeasePlan's competitiveness — National average total cost of ownership for the compact segment (C1 and SUV-C1)

TCO lease plan segment B — Country average total cost of ownership for city car segment (B1 and SUV-B1)

Segment D (Volkswagen Passat or Hyundai Ioniq 5 type D1 and SUV-D1 according to LeasePlan) refers to the 19 countries where battery engines dominate, excluding Poland, Italy and the Czech Republic. For France, the difference still shows, at €861 for fully electric cars, €1,114 for plug-in hybrids, €1,140 for diesels and €1,066 for petrol. See the country-by-country comparison table below.

TCO lease plan segment D — National average total cost of ownership for the standard mid-size car segment (D1 and SUV-D1).

Then mid-size premium cars (BMW 3 Series or Mercedes-Benz GLC-Class D2 and SUV-D2 according to LeasePlan) identified EVs as the most cost-effective option in 18 out of 22 countries. Diesel is still the winner. in France with a TCO of €1,250 versus €1,287 of an electric car. But the latter, plug-in hybrids are cheaper at 1,348 euros, and gasoline at 1,447 euros. See the table below.