Are electric cars cheaper to own than combustion engine cars in Europe?

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Electric Cars Now Offer Lower Total Cost of Ownership Than Combustion Engine Vehicles Across Most of Europe

A recent European study indicates that the total cost of ownership for electric cars has become lower than that of combustion engine vehicles in the majority of European countries. While electric options are proving more affordable across most sedan segments, this trend is less pronounced for SUVs and city cars, with only eight out of 22 surveyed nations showing a lower total cost of ownership for electric city cars.
Total Cost of Ownership Comparison

The "Car Cost Index 2021" report, conducted by LeasePlan, comprehensively analyzed the total cost of owning and operating a car (TCO) across 22 European countries. This analysis considered various expenses including energy/fuel, depreciation, taxes, insurance, and maintenance, averaged over the first four years of ownership with an annual mileage of 30,000 km. The findings demonstrate that electric vehicles are now a more economically viable choice for consumers in most European markets, particularly within the sedan category.
Segment-Specific Affordability

The study highlights that electric cars are significantly more affordable in the sedan segments, both premium and otherwise, across a majority of countries. However, the cost advantage diminishes for sport utility vehicles (SUVs). For city cars, the total cost of ownership for electric models is only lower in eight of the 22 countries examined, suggesting that while electric cars are generally becoming more cost-effective, specific vehicle types and market segments still present variations in affordability.
Illustrative Case Study: Volkswagen Models

To illustrate the cost differences, the study compared Volkswagen's all-electric ID.3 with its combustion engine counterpart, the Golf, which is available in gasoline, diesel, and plug-in hybrid versions. With the exception of Spain, the ID.3 emerged as the more economical option for daily use in most comparisons. For instance, in France, the monthly all-inclusive cost of driving the ID.3 is €568, which is the lowest score recorded across all surveyed countries. In contrast, the monthly cost for a Golf ranges from €715 for the gasoline version to €849 for the plug-in hybrid model, underscoring the financial benefits of electric vehicles in certain markets and segments.

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Are electric cars cheaper to own than combustion engine cars in Europe?

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