Electric cars – be it a compact, SUV or a van – have higher price tags than petrol engine vehicles. when you take into account the annual costs for actually driving and maintaining the car, the setup changes. An electric vehicle has lower running and maintenance costs. British car insurer Direct Line analysed the total cost of ownership for the lifetime of vehicles, and concluded that electric cars are somewhat cheaper to own than traditional cars.
The estimates were based on the average vehicle lifetime of 13.9 years, and on average annual mileage of 7900 / 12700 km.
In this model, the cost advantage for electric vehicles is 3% over the lifetime of the car. A study conducted in the US by the Electric Vehicle Transportation Center with vehicles available in that market found that small electric cars had cost advantage already after five years of usage.
The numbers in Direct Line’s study indicate that owners of electric cars who drive more than the average 12700 km a year would benefit more compared to an owner of petrol vehicle who drives as much. Fuel and maintenance costs of e-cars are significantly (58% and 49%) lower than the costs of combustion engine cars.
Via The Driven.