Electric Cars vs. Gasoline Cars: Which One Saves You More Money in Europe?
In recent years, electric cars have become increasingly popular worldwide. In addition to being more environmentally friendly than gasoline cars, they are also more economical to maintain and drive. In this blog, we will analyze whether it is profitable to buy an electric car nowadays.
According to a study by McKinsey&Company, the profitability of electric cars depends on the price of kWh of batteries 1. The study concludes that electric cars will not match combustion cars until 2025-2030. However, with the third edition of the Efficient and Sustainable Mobility Incentives Program (Moves), the price difference between gasoline and electric vehicles is “smaller than ever” 2. Moves III includes grants for the purchase of an electric car that can reach up to 8,000 euros taking into account the additional discount from the brands 2. The British company Carwow emphasizes that buying an electric car instead of a gasoline one can save up to 7,000 euros after about 10 years and 100,000 kilometers 2.
Moreover, electric cars are more economical to maintain and drive than gasoline cars. Electric cars have fewer moving parts than gasoline cars, which means there are fewer parts that wear out and need to be replaced. Additionally, electric cars are more energy-efficient, which means fewer kWh are needed to travel the same distance as a gasoline car. This translates to a lower cost per kilometer traveled 3.
In summary, although the price of electric cars is still higher than that of gasoline cars, government incentives and long-term savings in maintenance and driving costs make electric cars a profitable option for drivers. If you are interested in buying an electric car, be sure to research the available options and compare the prices and features of different models.
