CAR COST INDEX - LEASEPLAN
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Car Cost Index LeasePlan Corporation N.V. - Consultancy Services September 2019
The Car Cost Index
• LeasePlan’s Car Cost Index is a comprehensive analysis
of the costs of owning and operating a small to medium-size car in 18
European countries.
• It factors in all the various costs that must be payed for corporate
leasing in each country, including fuel, depreciation, taxes, insurance
and maintenance.
• All costs are averaged over the first three years of ownership and
assume 20,000 km of driving a year.
• The data is based on corporate lease contracts and not on private
lease contracts. Furthermore, employee costs (like benefit-in-kind tax)
are not included.
• Keep in mind that electric vehicles and diesel/petrol vehicles have
different trimlines and configurations which makes it impossible to
conduct a like for like comparison. Therefore, the results of this study
should not be interpreted as such.
The following information in this report is subject to certain conditions and disclaimers (see page 11), continuing to read this report indicates your acceptance of these conditions and 2
disclaimers.Key findings
The average monthly cost of driving a car varies hugely Greece is the cheapest place to drive
across Europe, from €440 a month in Greece to €830 a a diesel or petrol car.
month in Norway.
Relative to GDP, drivers in Italy and the Netherlands Electric cars are cost competitive in northern
have the highest total cost of ownership, while drivers in European countries such as the Norway and
Greece and the UK have the lowest total cost of the Netherlands.
ownership.
The Netherlands is the most expensive place to drive Compared with our 2018 results, we see a
diesel cars and Norway for petrol cars. Consequently, sharp decline in the price differences between
electric cars are cheaper than diesel in the Netherlands electric cars and petrol/diesel cars for the other
and cheaper than petrol in Norway. European markets
3Driving a car in 2019 is most expensive in
Norway, and cheapest in Greece
Average monthly TCO of all fuel types1
• In Northern European countries
€ 830 € 825
€ 764 like Norway, the Netherlands, and
€ 715 Average
€ 643 Denmark, driving a vehicle is
€ 667
€ 639 € 626
€ 618
€ 611
€ 605
€ 602 €617 relatively expensive
€ 563 € 507
€ 521 € 496
€ 451 € 440 • In Eastern European countries like
Romania, Slovakia, and Czech
Republic, driving a vehicle is
relatively cheap
• The average cost across the
European markets has remained
Norway
Netherlands
Denmark
Italy
Belgium
Spain
Switzerland
France
Sweden
Germany
Portugal
United Kingdom
Austria
Poland
Czech Republic
Slovakia
Romania
Greece
largely unchanged compared with
our 2018 results
1) Weighted for % of fuel type sold over Q1 2019 4Wealthier countries tend to have higher costs
Average TCO per country versus GDP per capita
• Relative affordability of cars can be
Average monthly TCO of all fuel types1
€ 900
better understood when comparing the
€ 850 NL average monthly TCO to GDP per capita
€ 800 IT per country
€ 750 ES BE DK
NO • In the Netherlands & Italy the affordability
€ 700 PL SE
CH
is relatively low with the average TCO
€ 650 FR DE being relatively high compared to the
CZ AT
€ 600 RO SK GDP
€ 550 UK
€ 500 • For Greece and the UK, the average
TCO is relatively low compared to GDP
€ 450 GR indicating that driving a vehicle in these
€ 400 countries is relatively cheap
€ 5,000 € 25,000 € 45,000 € 65,000 € 85,000
GDP per capita
1) Weighted for % of fuel type sold over Q1 2019 5In Norway and the Netherlands electric is
more affordable than petrol or diesel
Electric Average monthly total cost of ownership in top eight countries Besides Norway, electric vehicles are now also
Diesel 100% = average within each country in Q1 2019* nearing parity in terms of cost in the
Petrol Netherlands compared to petrol and diesel
€937 €974 vehicles. The main contributors to this trend
€851 €900
€833 are:
€846
€821 €872 €760 €804 €806
€783 €794
€762 - The increased fuel cost of diesel and petrol
€676 €683 - The high registration and road taxation for
€644 €587 €643
€596 €598 diesel specifically.
€567 €576
€520 - The subsidies and tax breaks in place for
electric vehicles
Even in countries where electric is more
expensive than in petrol or diesel like Sweden,
we can see demand for electric vehicles
increasing because of favorable Benefit-in-kind
taxation for electric vehicles.
Norway Netherlands United Denmark Italy Sweden Germany France
Kingdom
*the cost levels are determined by comparing the same basket of vehicles per fuel type across countries. Please be aware that a like for like comparison is not possible between EV and Diesel/Petrol since
range, horsepower, and comfort levels are different for EVs than for diesel/petrol vehicles. 6Average monthly total cost of ownership
The TCO breakdown of the three fuel types across all countries compared
Depreciation Average of Fuel Average of Maintenance, repair, road assistance & tires
Average of Road tax + VAT Average of Insurance & Accident Management Average of Interest
Electric 52% 17% 7% 12% 6% 6%
Diesel 39% 20% 15% 13% 8% 5%
Petrol 32% 20% 21% 13% 9% 5%
7Average monthly total cost of ownership
totals Interest
Electric RMT
Fuel
Insurance
Road tax + VAT
€995 €991 €974 Depreciation
€1,000 €959
€900 €872
€900 €858 €854 €847 €846 €834 €833 €833 €825
€806 €804
€800
€676 €656
€700
€600
€500
€400
€300
€200
€100
€-
8Average monthly total cost of ownership
Diesel
€1,000 €937 Totals Interest
€900 €821
RMT Insurance
€800 €762 Fuel Road tax + VAT
€691 €683 Depreciation
€700 €643 €632
€598 €595 €591 €576
€600 €567 €562 €549
€515
€486
€500
€410 € 407
€400
€300
€200
€100
€-
9Average monthly total cost of ownership
Petrol €1,000
Totals Interest
€900 €851
€794 €783 RMT Insurance
€800 €760
Fuel Road tax + VAT
€700 €644 €632 Depreciation
€613 €596 €587
€600 €567
€538 €527 €520
€477 €461
€500 €449 €446 €445
€400
€300
€200
€100
€-
10Disclaimer
This material has been approved solely by, and is the responsibility of LeasePlan Corporation N.V. (“LPC”) on the
basis of the sources as listed herein and information provided by LPC. LPC makes no representation or warranty
(express or implied) of any nature, nor does it accept any responsibility or liability of any kind, with respect to the
accuracy or completeness of any of the information or opinions in this material.
The information contained in this document is derived from sources that have not been independently verified.
LPC gives no undertaking and is under no obligation to provide the recipient with access to any additional
information or to update this document or to correct any inaccuracies in it which may become apparent, and it
reserves the right, without giving reasons, at any time and in any respect to amend or terminate the information
described herein.
Except in the case of fraudulent misrepresentation, neither LPC nor any of its affiliates, advisers or
representatives shall have any liability for any direct, indirect, consequential or other losses or damages including
loss of profits incurred by you or any third party that may arise from any reliance on (1) this document or for the
reliability, accuracy, completeness or timeliness thereof or (2) for any other written or oral information made
available by LPC in connection herewith or (3) any data which any such information generates.
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