Consideration
All the maintenance, servicing, electricity, fuel price and electricity prices are considered only for the period of three years, since the maintenance and servicing cost are recommended for that period.
Key Assumption: The values for maintenance and service cost can change depending on the driving style.
All the maintenance, servicing, electricity, fuel price and electricity prices are considered only for the period of three years, since the maintenance and servicing cost are recommended for that period.
Key Assumption: The values for maintenance and service cost can change depending on the driving style.
Methodology
Purchase Price Vehicle
Purchase price of the vehicle was considered for both the cars and it also accounts for the major price of the cars.
Registration Fees
This only applies to petrol/diesel or hybrid cars. In our case it applies to Honda Civic and Nissan Leaf having £55 to be paid at the time of registration.
Service Cost
The service cost for both the cars was comparatively same for the first year but keeps gradually increasing for Honda Civic reaching stagnancy figures between £260 to £280. For Nissan Leaf only major service cost has been considered because the minor servicing is likely to occur due to less moving parts.
Vehicle excise Duty
This is mostly applied to Honda Civic which is £165 for the first year and thereafter varies annually as per the amount of emissions coming from the car. Electric Cars are denied from paying VED because of their green natured (zero CO2 emissions) operation.
Fuel Price/year
For calculating fuel price/year for Honda Civic certain key factors were taken into account
For Petrol Price/ year
Considered factors
Electricity Price/year
Considered factors are as follows
Charging Cost
Cost for home charger was taken into account which was £779. Government grant on home charging was again considered which was £500.
Purchase Price Vehicle
Purchase price of the vehicle was considered for both the cars and it also accounts for the major price of the cars.
Registration Fees
This only applies to petrol/diesel or hybrid cars. In our case it applies to Honda Civic and Nissan Leaf having £55 to be paid at the time of registration.
Service Cost
The service cost for both the cars was comparatively same for the first year but keeps gradually increasing for Honda Civic reaching stagnancy figures between £260 to £280. For Nissan Leaf only major service cost has been considered because the minor servicing is likely to occur due to less moving parts.
Vehicle excise Duty
This is mostly applied to Honda Civic which is £165 for the first year and thereafter varies annually as per the amount of emissions coming from the car. Electric Cars are denied from paying VED because of their green natured (zero CO2 emissions) operation.
Fuel Price/year
For calculating fuel price/year for Honda Civic certain key factors were taken into account
- Combined Average of Honda Civic = 56.5 MPG
- Tank Capacity = 10.12 Gallons
- No. of miles done/year = 8000
For Petrol Price/ year
Considered factors
- Petrol Price/gallon.
- Petrol needed/week = Miles done per week / Combined Average
- Petrol Price/week = (Petrol price/Gallon) * (Amount of petrol needed/week)
Electricity Price/year
Considered factors are as follows
- Capacity (kWh) = 40
- Range (WLTP) miles = 168
- No. of miles/year = 8000
- Miles / day = 22
- Miles/week = 154
- Electricity Price /kWh (GBP) = 0.14
- Electricity /week (kWh) = 0.14 * 40 (taken as per the battery capacity)
- Electricity Price for 52 weeks (GBP) = 291.2
Charging Cost
Cost for home charger was taken into account which was £779. Government grant on home charging was again considered which was £500.
Results
TCO for both Honda Civic and Nissan Leaf Acenta has been calculated for the period of 3 years. It seems that Electric Vehicles are priced clearer to petrol vehicles when a period of three years is considered, but if we assume that each electric or petrol vehicle if used for more than 8 years then electric vehicle would be more profitable because they have less maintenance, less charging price(if charged at home and if electricity remains cheap in the future) and zero VED.
TCO for Nissan Leaf = 26,939.6 GBP
TCO for Honda Civic = 27,201.0 GBP
TCO for both Honda Civic and Nissan Leaf Acenta has been calculated for the period of 3 years. It seems that Electric Vehicles are priced clearer to petrol vehicles when a period of three years is considered, but if we assume that each electric or petrol vehicle if used for more than 8 years then electric vehicle would be more profitable because they have less maintenance, less charging price(if charged at home and if electricity remains cheap in the future) and zero VED.
TCO for Nissan Leaf = 26,939.6 GBP
TCO for Honda Civic = 27,201.0 GBP
REFERENCES
1. Price of Nissan leaf Acenta
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2. Price of Honda Civic
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3. Registration fee for Honda Civic
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4. Service cost for Honda Civic
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5. Nissan Leaf's major servicing cost
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6. Vehicle excise duty for Honda Civic
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7. Fuel prices
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8. Fuel tank capacity for Honda Civic
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9. WLTP range for Nissan leaf
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