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Electric cars are cheaper in long run, study finds

Mid-size electric cars could be £131 a month cheaper to maintain and hold their value for longer
Mid-size electric cars could be £131 a month cheaper to maintain and hold their value for longer
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Battery-powered family cars are cheaper to own and run than petrol and diesel equivalents, according to a study.

It found that common mid-size electric cars could be £131 a month cheaper to maintain than those with a combustion engine.

Small battery-powered cars remained more expensive than their fossil fuel equivalents, but the gap in ownership costs disappeared after four years.

A brief history of electric cars

The financial benefit of owning an electric car increased the “further and longer” they were driven because of the lack of fuel costs and cheaper maintenance and tax. Electric vehicles also hold their value for longer.

The conclusions were made in a Europe-wide study by Leaseplan, the vehicle fleet management company. Boris Johnson is set to confirm soon that the government will accelerate a ban