April 14, 2019
Electric cars are twice as expensive to own and maintain than ordinary cars
“RAC WA have looked at the total operating costs of different electric and fuel-powered vehicles over a five-year period assuming 12,000km driven per year. They found that it is still cheaper to operate a Holden Commodore or Toyota Camry over a five-year period compared to a Tesla or a lower-cost BMW i3. Although the operating costs are much lower for the electric versus fuel-powered, the sting in the tail comes in the holding costs, namely depreciation and interest. The depreciation percentage on electric cars may be less than petrol-powered, but given the higher purchase cost, this equates to holding costs that are almost three times higher compared to fuel-powered equivalents over a five-year period. RAC WA found that when factoring every cost relating to a car, the four-cylinder Toyota Camry came in at an average weekly cost of $194, while the V6 Holden Commodore came in at $236 a week.”
Couple of things to note – Even ordinary cars cost quite a bit – which is something most people forget. Even a really cheap second hand car can cost well over $100 per week to own and maintain.