Which car segments show the biggest cost savings for electric vehicles?

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Electric Cars Offer Significant Cost Savings Primarily in Sedan Segments

Electric vehicles now present a lower total cost of ownership compared to combustion engine vehicles across most European countries, particularly within the sedan segments. While this cost-effectiveness is less pronounced for SUVs and city cars, the overall trend indicates a favourable economic shift towards electric mobility for a majority of consumers. The LeasePlan "Car Cost Index 2021" report, which analyzed 22 European nations, found that the total cost of owning and operating a car, considering energy, depreciation, taxes, insurance, and maintenance over four years with 30,000 km annual mileage, is now generally lower for electric models.
Sedans Lead in Electric Vehicle Affordability

The study highlights that electric cars are significantly more affordable in the majority of countries within the sedan segments, encompassing both standard and premium models. This widespread cost advantage in the sedan category makes electric vehicles a more accessible and financially sensible choice for a larger portion of the European car market. For instance, the report specifically contrasts Volkswagen's all-electric ID.3 with its combustion engine counterpart, the Golf.
SUVs Show Moderate Cost Advantages for Electric Powertrains

While the savings are most substantial in the sedan class, electric SUVs also demonstrate a degree of cost-effectiveness, though to a lesser extent. The report indicates that the economic benefits of electric powertrains for sport utility vehicles are present but not as pronounced as those observed in sedans. This suggests that while the transition to electric is economically viable for SUV buyers, the savings might be marginal or dependent on specific market conditions and incentives.
City Cars Lag in Total Cost of Ownership Savings

The economic advantage for electric vehicles is notably diminished in the city car segment. The analysis reveals that only eight out of the 22 surveyed countries reported a lower total cost of ownership for electric city cars compared to their combustion engine equivalents. This disparity suggests that factors such as higher initial purchase prices for smaller electric models or specific operational costs in urban environments may currently outweigh the benefits of lower running expenses.

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Which car segments show the biggest cost savings for electric vehicles?

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