LeasePlan, a car leasing company from the Netherlands, has evaluated 22 European car markets and has released its ‘2022 Car Cost Index’ study, ranking the countries where it costs the most and the least to own a car.
Comparing markets across the continent, the study took into consideration several factors that determine monthly budgets for car owners, including the cost of fuel, taxes, insurance, maintenance and repairs, and even the depreciation of vehicles.
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So, how did Spain rank compared to its European neighbours?
According to the study, Spain ranked as the seventh cheapest country in Europe to own a car, where the average car owner spends €1,044 on their car per month.
Taking a look around Europe, generally speaking, the costs of having and driving a car were higher in northern Europe than in Eastern Europe, with countries in the southern continent generally somewhere in the middle to the cheaper end of the spectrum, with the exception of Portugal, which placed fourth in the rankings.
Most expensive countries (average price/month)
- Switzerland (€1,313)
- Norway (€1,249)
- Netherlands (€1,166)
- Portugal (€1,160)
- Czech Republic (€1,144)
- Germany (€1,130)
- Belgium (€1,103)
- Austria (€1,092)
- United Kingdom (€1,081)
- Hungary (€1,077)
- Greece (€905)
- Poland (€927)
- Romania (€975)
- Slovakia (€979)
- France (€999)
- Ireland (€1,044)
- Spain (€1,044)
The study also concluded that despite increases in energy prices and the upfront cost of the initial investment, electric car ownership is equal to or cheaper than having a petrol or diesel car.
“Despite the inflation of energy prices, the costs of recharging a battery are still significantly lower for electric cars than for gasoline and diesel cars,” the study stated.
“Fuel costs represent 15 percent of the total cost of ownership of an electric vehicle, while this percentage is between 23 percent and 28 percent for gasoline and diesel costs”, it added.
“Electric vehicles are the best way to protect drivers from skyrocketing fuel costs,” LeasePlan CEO Tex Gunning said.
“Unfortunately, governments are withdrawing incentives for electric vehicles too soon, even in countries with ambitious zero-emission targets. This attitude of prohibition without a plan will have disastrous consequences for the fight against climate change”.