Is an electric car profitable?

Buying an electric car is cost-effective, even though the initial price is a priori higher than that of a combustion-engine car.

The idea of buying an electric car is something many drivers have in mind. Before making a decision, it is important to understand the cost-effectiveness of electric cars. Is it more cost-effective to buy an electric car, or is it still worth buying a diesel car or a petrol one? Range, charging times, initial price, maintenance and electricity consumption are factors that should be taken into account before deciding to buy an electric car.

Many car manufacturers are betting on including 100% electric models in their ranges. This makes it easier for drivers to get to know these models and to consider them when looking for a new vehicle that suits their needs and the new times.

What subsidies are available for electric cars?

The Government has launched a plan of aid for the purchase of electric cars. The most recent is called the MOVES Plan and offers aid of up to 5,500 euros on purchase. It has a budget of 45 million euros, and the vehicles purchased must cost less than 40,000 euros.

It is worth noting that autonomous regions such as Castilla-La Mancha, Catalonia, Madrid, the Canary Islands and the Basque Country have begun offering aid for the purchase of vehicles powered by alternative energies.

In addition, many cities have started granting users a discount of between 50 and 75% on the Vehicle Circulation Tax. Palencia, Valladolid, Granada, Tarragona, Zaragoza and Madrid are among these cities.

Buying an electric car also offers certain savings to its drivers. This is the case of tolls in Catalonia, which are free for all electrically powered vehicles. Regulated parking zones in large cities also offer discounts that can reach 100%, depending on the city and the area.

Last but not least, there is a benefit when it comes to the Vehicle Technical Inspection, ITV. In this case there are no subsidies as such, but the emissions tests are not carried out, which means a saving for the driver.

Price per kilometre: is an electric car really cost-effective?

Before drawing hasty conclusions, it is important to know the price of the kWh. Currently, it stands at 0.13 euros/kWh. This means that charging an electric car should not exceed 10 euros, depending on the model. If this figure is compared with filling an average fuel tank of about 50 litres, the saving is considerable.

How much does an electric car cost? Is it cost-effective?

Electric cars can cost more than twice as much as a combustion-engine car. It should be noted that although it may seem much more expensive at first, in the long run the driver can benefit from multiple subsidies, as mentioned above.

When buying an electric car, it must be taken into account that the installation of a charging point at home will be necessary. These can cost between 1,200 and 1,500 euros. This expense can be paid in full by the owner or the installation company can be asked to rent it out.

Maintenance of electric cars

One of the key points of savings with electric cars comes from the cost of maintenance. These vehicles are simpler than combustion-engine vehicles in terms of construction.

Because they have fewer moving and synchronised parts, the system is simplified and electric cars do not have the usual breakdowns or maintenance needs that combustion-engine cars have.

Therefore, maintenance is reduced to replacing brake pads, checking fluids such as the brake fluid and windscreen washer fluid, and rotating the tyres.