ARCHIVED - Petrol cars now cost 37 per cent more than electric in Spain
Fuel costs and inflated registration taxes have all hiked up the price of cars in Spain
The total cost of ownership (TCO) of petrol cars has streaked past electric vehicles in recent months thanks to the increase in fuel prices in Spain and the huge hike in registration charges that came into force at the beginning of 2022.
On the one hand, the registration tax increase has hiked up the TCO by around 4% based on a medium-sized petrol or diesel vehicle that travels 20,000 kilometres per year, according to a recent study by Arval. On the other, fuel prices have grown by an average of 20% in Spain so far this year, and this increase “is more pronounced” each month.
With prices at the pumps jumping to 1.85 euros and 1.72 euros per litre respectively for petrol and diesel in February, “for an average driver who travels 20,000 kilometres a year with a medium-sized petrol vehicle, their monthly fuel cost has increased by an average of 60 euros,” according to Arval.
“This latest rise in petrol is a boost to the competitiveness of the electric vehicle as a whole,” Arval’s director of Retail, Marketing and Mobility in Spain, Manuel Orejas, explained. “The market, companies and individuals must take advantage of this moment to make a leap towards sustainability.”
Of course, electricity prices have also been impacted heavily by inflation, but the special rates for charging electric vehicles still make this a cheaper way to get around overall. Currently, recharging costs between 0.10 and 0.4 cents per kilowatt hour.
The Arval study calculated that the average petrol costs for a car that travels 50 kilometres a day is seven euros, compared to between just one and 3.5 euros per day for an electric vehicle.
Lastly, the Moves III Plan offers up to 7,000 euros for the purchase of an electric car, meaning that overall customers could save anywhere from 24% to 37% by switching over from petrol.
Image: Wikimedia Commons
Sign up for the Spanish News Today Editors Roundup Weekly Bulletin and get an email with all the week’s news straight to your inbox
Special offer: Subscribe now for 25% off (36.95 euros for 48 Bulletins)
OR
you can sign up to our FREE weekly roundup!
Read some of our recent bulletins:
25% Discount Special Offer subscription:
36.95€ for 48 Editor’s Weekly News Roundup bulletins!
Please CLICK THE BUTTON to subscribe.
(List price 3 months 12 Bulletins)
Read more stories from around Spain:
Contact Spanish News Today: Editorial 966 260 896 /
Office 968 018 268
