Gasoline prices are climbing relentlessly, and there is no clear sign of when this trend will ease. They have already surpassed two euros per liter and may soon reach 2.5 euros. In this climate, electric cars are seen by many as a practical answer to the growing energy gap. The key question remains: with the high upfront cost of these vehicles, can the purchase pay for itself over time? The answer, in most mid-range cases, is yes. These cars, unless they are top-tier models, tend to pay back their extra cost over seven or eight years, after which the owner effectively drives the car for free, aside from regular maintenance.
Let’s break it down step by step. Consider a representative mid-sized model, such as the Peugeot e-2008, a compact SUV in the middle of the market. The numbers show that the purchase price is offset by not having to buy gasoline seven years down the line.
Assuming it is the first-hand and most affordable version of the vehicle, the price sits around 29,000 euros after discounts. A government subsidy of 7,500 euros via the Moves plan is deducted here. It should be noted that this subsidy appears as income on the income statement and affects the final balance, but it remains a meaningful contribution.
Suppose a driver uses 40 liters of gasoline per week at a price of 2 euros per liter, a rate that has already been exceeded in parts of the market. This would total 320 euros each month or about 3,840 euros per year.
In contrast, charging an electric car at home from a standard outlet—one of the slower options—consumes far less, typically under 150 euros per year under light use. The gap with 3,840 euros for petrol is substantial. Some public electric chargers are free, though there are some that cost more than charging at home.
Other advantages of an electric
Beyond fuel savings, electric motors typically require less maintenance because they have far fewer moving parts. They also benefit from lower roaming taxes and, in many cities, reduced or waived parking fees in regulated zones. The total cost of ownership for an electric car can be close to the vehicle’s purchase price when considering these ongoing savings.
When the annual gasoline expense is taken into account, the 29,000-euro purchase can be amortized in roughly seven years. The payback period can be shorter if more kilometers are driven than the baseline estimate for a 40-liter-per-week consumption, and it can extend a little if a higher-priced, higher-quality model is chosen. If a fast home charger is installed, the payback period can lengthen just a bit.
In summary, the price of a car should be viewed as more than the sticker price. The lifetime fuel costs must be added to obtain the true cost of the vehicle.
As noted by automotive expert Javier Costas Franco on the Forocoches Electricos portal, the best time to buy an electric car may be now, because prices can continue to rise if supply chains remain tight and demand stays strong. The industry has faced delays for months and price pressures persist.
“Electric car prices are rising due to post-pandemic inflationary pressure, so delaying purchases can lead to higher costs. When will prices drop again? That is hard to say. Some will predict 2025, others will wait for greater supply, and some will advise waiting longer, ” Costas says, urging buyers to secure a place in line to reserve a car now.
“If a new car isn’t right for you, consider the used market, and if you don’t trust it, buy a manufacturer-backed certified pre-owned option. Some come with upfront warranties and 50,000 km on an electric car may not be as critical as it once was in older models,” he adds.
And as Costas puts it, “to see more clearly you can expect to see 3 euros per liter in the future.” In short, “park your doubts.”
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Environment department contact address: [citation: Official statements from the environment department cited for context in industry discussions]