Electric cars are too expensive? New figures suggest not

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Perhaps unsurprisingly, it’s the Scandinavian nations that lead the way on savings when switching to an electric vehicle

, it will actually cost you more to run a Leaf than a Golf, to the tune of about €800 in each country.maths memories and do your sums carefully before deciding. “Switching to an electric car or van means zero emissions from the vehicle, cheaper road tax as well as escaping charges for emission zones in cities. But there’s no denying the range limitations, longer charging time and generally higher purchase prices.

The SEAI comparison differs from the Money.co.uk one in that it includes maintenance costs, price, fuelling costs, tax and purchase grants, and covers 18,000km rather than 16,000km. Petrol and diesel prices are due an update, which may increase the savings, we were told, but so also the electricity prices will need a review, based on the most recent increases, so there may be some further swings from both but the general figures as they stand should be accurate.

According to the SEAI, there are five key things that are holding consumers back from buying electric. The main one is cost, and it is certainly true that many buyers still see a new EV as being just too expensive. The SEAI, though, claims that much of this is down to “hyperbolic discounting” – which basically means that most of us are looking at the up-front purchase price, and not the overall lifetime running costs.

 

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