- Energy costs €2–4 per 100 km at home, €8–14 on public fast chargers.
- Servicing is 30–40 % cheaper, but tyres wear 15–25 % faster.
- Depreciation is the largest cost: 40–60 % of the value after five years.
- Without home charging, an electric car can cost more per kilometre than a efficient petrol car.
The five cost lines that matter
1. Depreciation
It is the largest and most ignored cost. A €40,000 electric car losing 50 % of its value over five years costs €4,000 a year before a single kilometre is driven — more than energy, servicing and insurance combined.
Depreciation depends on:
- the model’s staying power: a car whose successor offers 100 km more range loses value faster;
- battery health, which buyers increasingly check;
- brand strength and after-sales coverage;
- incentives: a large purchase subsidy mechanically lowers used values.
2. Energy
| Charging situation | Cost per kWh | Cost per 100 km (18 kWh/100 km) |
|---|---|---|
| Home, off-peak | €0.15–0.20 | €2.70–3.60 |
| Home, standard tariff | €0.22–0.28 | €4.00–5.00 |
| Workplace | €0.20–0.35 | €3.60–6.30 |
| Public slow (AC) | €0.30–0.50 | €5.40–9.00 |
| Public fast (DC) | €0.50–0.80 | €9.00–14.40 |
For 15,000 km a year, the difference between home charging and public fast charging is €900–1,600 annually. That single variable decides whether an electric car is cheap or expensive to run.
3. Servicing
An electric car has no engine oil, oil filter, air filter, spark plugs, timing belt or exhaust. Brakes last far longer thanks to regenerative braking. What remains:
- cabin filter: every 1–2 years, €30–60;
- brake fluid: every 2 years, €60–100;
- coolant: every 4–5 years on most models;
- tyres: the main wear item.
Budget €200–350 a year on average, against €500–800 for an equivalent petrol car.
4. Tyres
Electric cars are heavy and deliver torque instantly, both of which wear tyres faster — typically 15–25 % faster than a comparable combustion car. A set of four tyres costs €400–800 depending on size, and the interval can drop from 40,000 km to 30,000 km. Choosing a dedicated EV tyre with lower rolling resistance reduces both wear and consumption.
5. Insurance and taxes
Insurance is often 10–25 % higher. Taxes vary widely by country: many European countries tax electric cars lightly or not at all, and company-car taxation usually favours them strongly. Check local rules rather than assuming.
A worked five-year example
Compact electric hatchback, €35,000 new, kept five years, 15,000 km a year, charged 80 % at home:
| Item | Five-year total |
|---|---|
| Depreciation (50 %) | €17,500 |
| Energy (75,000 km at €3.20/100 km) | €2,400 |
| Servicing | €1,400 |
| Tyres (2.5 sets) | €1,300 |
| Insurance (5 years) | €4,000 |
| Total | €26,600 |
| Per month | €443 |
The same exercise with a petrol hatchback at €28,000, 6 l/100 km and €1.80/l:
| Item | Five-year total |
|---|---|
| Depreciation (45 %) | €12,600 |
| Fuel (75,000 km at €10.80/100 km) | €8,100 |
| Servicing | €3,000 |
| Tyres | €1,100 |
| Insurance | €3,400 |
| Total | €28,200 |
| Per month | €470 |
The electric car wins, but by less than the marketing suggests — and only because energy is cheap at home. Remove home charging and the advantage disappears.
What actually changes the equation
Keep the car longer. Depreciation dominates early; after seven or eight years, the electric car’s lower running costs take over.
Charge at home. It is worth several thousand euros over five years. If you cannot, compare carefully before switching.
Buy a used model with a healthy battery. Someone else has absorbed the steepest depreciation.
Check insurance before buying. A 300 hp dual-motor version can cost €400 a year more to insure than the single-motor equivalent.
Do not over-spec the battery. A 100 kWh pack costs €10,000–15,000 more and depreciates faster than a 60 kWh one that covers your real needs.
The break-even point
For a compact car charged at home, the electric version usually breaks even with petrol after 45,000–70,000 km, or three to five years. Below 10,000 km a year, the financial case weakens — though the driving experience, noise and maintenance simplicity may still justify it.
The honest conclusion: an electric car is a good financial decision when you drive a fair amount, charge at home, and keep the car. It is a poor one when you drive little, rely on public fast charging, and change cars every three years.
Frequently asked questions
Is an electric car cheaper than a petrol car overall?
Over five years and 75,000 km, a compact electric car usually costs 10–20 % less than an equivalent petrol model, provided you charge mostly at home and keep the car long enough to amortise the purchase premium. Without home charging, the advantage shrinks or disappears.
How much does a full charge cost?
A 60 kWh battery charged from 10 % to 100 % takes about 54 kWh. At €0.18/kWh at home that is €9.70; at €0.60/kWh on a public fast charger, €32.40. For 400 km of range, that is €2.40 or €8.10 per 100 km.
Are electric cars more expensive to insure?
Often 10–25 % more, because repairs on high-voltage components and sensors are costly and fewer independent garages can handle them. Shopping around matters more than for a combustion car.
What is the resale value of an electric car?
After three years, 50–60 % of the original price for established models; 40–50 % for newer brands and for cars with small batteries. Battery state of health, warranty transferability and software updates all affect the figure.