otal; taxes and insurance some 14%.
Phasing out internal combustion engines will protect consumers from rising fuel prices
Plug-in hybrid electric vehicles (PHEVs) are the most expensive in terms of total cost of ownership. Available models cost 61,000 euros over five years of ownership on average. Diesel and unsubsidised BEVs, by contrast, only cost around 57,000 euros. Including purchase incentives, the median total cost of ownership is just under 58,000 euros for a PHEV, and 51,000 euros for a BEV. The climate benefits of PHEVs are generally limited, however, as they tend to be predominantly operated on combustion power.
“For consumers contemplating a car purchase, the good news is that BEVs are already a cost-competitive alternative to ICEVs,” Maita Schade, Project Manager for Data and Digitalisation at Agora Verkehrswende, explains. “This is revealed by our analysis of real prices and costs. Nevertheless, there is still need for policy action. The sooner consumers switch to electric vehicles and public transport, the less they will be affected by rising fossil fuel prices.”
The full study, titled The Bottom Line of Electric Cars. Comparing the Cost of Ownership of Electric and Combustion-Engine Vehicles, is available for download in English at: https://www.agora-verkehrswende.de/en/publications/the-bottom-line-of-electric-cars/.
About Agora Verkehrswende
Agora Verkehrswende is a joint initiative of the Mercator Foundation and the European Climate Foundation. The aim of the think tank is to develop evidence-based and politically viable strategies for the full decarbonisation of the transport sector.
For additional information, please visit: www.agora-verkehrswende.de/en.