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Cap HPI calculates EVs' total cost of ownership

Citroen’s C Zero hatchback

Citroen’s C Zero hatchback emerged as the EV with the lowest cost of ownership when it topped a table compiled by Cap HPI to help consumers measure the impact of a shift to EVs.

The analysis looked at used EVs for those motorists thinking of making a switch to an alternative fuel type from petrol or diesel once all the servicing, fuel and other motoring costs are taken into account.

The Citroen C Zero came out on top, recording the lowest total cost of ownership at £18,319 (£508.86 per month), making it the best value used electric vehicle currently on the market.

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Hot on its heels was the Peugeot Ion Hatchback with a TCO of £18,489 (£513.58 per month), ahead of the Volkswagen e-Up with a TCO of £19,080 (£530 per month), the Hyundai Ioniq with a TCO of £20,632 (£573.11 per month) and the Renault Zoe with a TCO of £20,817 (£578.25 per month).

Chris Plumb, Black Book editor at cap hpi, said: “Over 60,000 new AFVs have joined Britain’s roads so far this year. The overall used market for electric vehicles has seen gains with residual values increasing by 7% this year."

“As consumer interest in electric vehicles continues to soar now could be a good time to consider switching to a used EV.

“The market for alternatively fuelled vehicles (AFVs) saw a record market share of 4.4% in June with more than 10,700 hitting the roads, a rise of 29%.

“Vs and plug-in hybrids can provide a good balance between range and efficiency plus the economic benefits for motorists can be enormous, offering big savings on fuel and tax costs as well as much lower maintenance costs.”

Cap HPI calculated that the Tesla Model S and Model X have a TCO of £43,027 and £53,279 (£1195.19 and £1492.47 per month), respectively.

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