EV motorists are set for an eco-dividend.
The cap hpi, a British company which provides decision support data and software solutions spanning vehicle valuation, validation, collision, mechanical repair, and total cost of ownership, released a report about EV servicing costs.
Data seems to confirm that electric car servicing will be cheaper than internal combustion cars, even those with small 1.0T engines. On average, the reduction is some 23% over the first three years and 60,000 miles - "The gap widens for smaller vehicles".
Maintenance cost over three years and 60,000 miles (96,500 km):
- Renault ZOE - £1,100 (€1,253/$1,445), 26.5% less than a Vauxhall Corsa 1.0T 90 Design costs £1,497
- Nissan LEAF - £1,197 (€1,363/$1,573), 19% lower than the Volkswagen Golf 1.0TSI 110 SE at £1,429.
We are not surprised by why dealers are not in a hurry to introduce electric cars:
"While motorists are set to benefit from lower running costs, the changing economics of electric vehicles will challenge motor dealers who rely on service revenue as an important part of their turnover."
Chris Plumb, senior valuations editor at cap hpi said:
“An electric car motor has far fewer moving parts than a petrol or diesel engine. They also benefit from gentler driving styles that lead to lower wear and tear of brakes and tyres. While the purchase price is often higher at the moment, but coming down all the time, drivers will find an EV much cheaper to run with significantly lower costs to charge rather than visit the pump and lower maintenance costs.”
Here is cap hpi's report on the growth of the EV sector for industry professionals.