According to research, electric car drivers would save an average of just £ 100 after three years compared to the gasoline version of the same vehicles.
Halfords’ analysis found that while electric vehicles are on average 47 percent more expensive to buy than gasoline and diesel equivalents, drivers would likely save after three years due to the lower operating costs.
Electric cars are seen as an important part of the UK’s efforts to achieve net zero carbon emissions, and sales of new gasoline and diesel cars will be banned from 2030.
However, critics have warned that the higher cost of electric vehicles could prove prohibitive for many drivers, although the high upfront prices are expected to decline over time as more used models hit the market.
Halfords analyzed the best-selling electric cars with a gasoline or diesel equivalent with an annual mileage of 10,000.
The biggest savings after three years included £ 800 for those who bought an electric Mini Cooper Classic and £ 1,650 for a BMW i3, though upfront they cost nearly £ 10,000 and £ 4,000 more than their gasoline or diesel counterparts.
However, after three years of analysis, owning an electric Vauxhall Corsa would put drivers £ 1,581 worse off than a gasoline Corsa, although that cost would decrease with more years of ownership.
Andy Turbefield, Head of Quality at Halfords, said, “We know intuitively that electric vehicles can be cheaper than their nearest gasoline and diesel equivalents, but we wanted to make it as easy as possible for people to see for themselves.”
He added, “We’re not suggesting that people buy electricity because of the long-term savings, but if people delay buying because of the upfront cost, they should think about it.”
Halfords launched a calculator for those looking to compare the cost of electric vehicle ownership, including data for 102 electric, gasoline, diesel and hybrid models.
In some cases, EVs have been more expensive on a total cost basis, although Halfords said there are “numerous” examples where EVs are more economical.
