LeasePlan’s new survey of car costs has illustrated that EVs are often cheaper than ICE vehicles in a number of marketplaces.
The firm’s annual Car Cost Index discovered that EVs are “cost competitive” across 14 countries including Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom in the family car segment. It also found in similar markets across Europe it was competitive in the compact vehicle segment.
The report found the average monthly cost of driving a car varies across Europe from €491 a month in Hungary to €926 a month in Switzerland. It discovered that Hungary is the cheapest place to drive a petrol car, while Greece is the cheapest place to drive a diesel car.
The costs of EVs are coming down, it discovered, and there is the development of a strong second-hand market for quality used EVs. But it also reported that governments are failing to provide the charging infrastructure necessary to satisfy market demand.
Tex Gunning, CEO of LeasePlan, stated that national and local policymakers needed to “step up now” and invest in an affordable and sustainable charging infrastructure to enable people to make the switch to EV.
Supporting the transition to electric mobility is the best investment governments can make, Gunning stated, and EVs are good for drivers, good for air quality, and one of the most effective ways to fight climate change.