electric automobiles are less expensive to own over their whole lifetime according to new research. even including the in some cases high preliminary purchase expense of electric models, they are much more expense efficient than their petrol equivalents over the long term, however the difference isn’t huge.
The typical overall expense of purchasing a new electric vehicle in 2020 as well as driving it for just under 14 years – the typical lifespan of a vehicle – has been calculated as £52,133. Doing the exact same with a petrol-powered design would expense £53,625.

Cheapest automobiles to run 2022

If you take the purchase cost out of the equation, annual running costs – including refuelling/recharging, insurance, road tax, MoTs as well as servicing – work out at £1,742 per year for an electric car, 21 per cent less than the £2,205 you’d pay for an equivalent petrol model.
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The data – which comes from direct Line group as well as is based on a comparison of five electric vehicle designs as well as their petrol equivalents offered to purchase new in 2020 – likewise shows annual car Excise Duty, MoT as well as servicing costs are 49 per cent lower on typical for EVs than they are for the similar petrol models.
Recharging an EV is 58 per cent less expensive than refuelling a petrol car, however one area where petrols do tend to be cheaper, though, are insurance coverage costs, with electric automobiles 25 per cent much more costly to get insurance coverage cover on.