From transition to reality: a turning point for consumers' electric mobility
www.beuc.eu
BEUC’s latest total cost of ownership study reveals that electric cars are at a turning point in Europe, with the Total Cost of Ownership (TCO) of battery electric vehicle (BEVs) becoming competitive with conventional vehicles for first owners as early as 2026.

Electric cars have crossed lifetime cost parity with petrol vehicles across much of Europe. In the used-car market they now have the lowest total cost of ownership.

Newer models even match petrol cars in estimated lifespan, that’s something early EVs could not claim.

This study shows that any new electric vehicle sold today will bring financial benefits to its second and third owner. New electric cars registered now will deliver between €262 and €849/year savings for their future second and third owners compared to an equivalent petrol car.

  • balsoft@lemmy.mlEnglish
    12·
    14 days ago

    In europe gas is expensive and electricity can be quite cheap because of rapid renewables adoption. In addition, you also have to factor in that gas cars need regular oil changes, engine maintenance and their brakes usually wear out much faster too.

    • Dave@lemmy.nz
      2·
      14 days ago

      Yeah there is quite low maintenence on EVs but they are said to go through tyres faster (on account of the weight). I figure any maintenance difference is probably not that big compared to not using fuel though.

      We bought an almost-new (ex-demo) EV about 6 months ago. We get free power (due to accidentally OPing our solar it’s use or lose) and we paid a little over half the price of what the car would be new.

      With mostly free power (still have to pay when we travel away from home) it’s going to take about 16 years to pay it off in fuel savings for us - and that’s not accounting for the interest on borrowing the money or the opportunity cost of investing the money elsewhere. If we had paid full price it would have been more like 25 years. This is based on before times fuel prices though, right now the numbers probably look better.

      I think you have to do a lot of driving for a new car to pay for itself. We do a lot of WFH and when we commute it’s with public transport so I think that really eats into any savings because we only do like 12 000km a year.

      • bufalo1973@piefed.socialEnglish
        2·
        14 days ago

        I’m not a long distance driver (only 5 or 6 times a year I drive more than 200 km in a day) and in 2 years my car is over 40000 km. Charging at home means a savings of more than 4000€ with the old gas prices. With 2€/l it’s even more. And I’m doing the maths with diesel numbers (more km/l).