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Opel Corsa-e: finally a small electric vehicle. Let me show why it's not as expensive as it seems (Dutch numbers, sorry).
The reactions are mainly: €35k for a small car?? Are you nuts? A regular Corsa is 20k so come back when you achieve that!
That's penny-wise, pound-foolish!
The reactions are mainly: €35k for a small car?? Are you nuts? A regular Corsa is 20k so come back when you achieve that!
That's penny-wise, pound-foolish!
I haven't looked at all the options but let's assume the car with it's 50kWh battery indeed costs €15k extra. (Is that correct @Opel_Nederland ?)
What does that mean for the monthly cost?
What does that mean for the monthly cost?
Well it depends on how much you drive. Fuel for a regular Corsa costs ~12 cents/km (6.75l/100km @ €1.80) while electricity costs ~3 cents/km (~0.15kWh/km @ €0.21).
Throw in lower maintenance and the advantage is around 10 cents/kWh.
Throw in lower maintenance and the advantage is around 10 cents/kWh.
So if you drive 10k km a year your advantage is €1000/yr and it takes 15 years without interest to earn back the €15k extra costs.
But if you drive 30k a year your advantage is €3000/yr and the difference is paid back in just 5 years! And electric drives very nice...
But if you drive 30k a year your advantage is €3000/yr and the difference is paid back in just 5 years! And electric drives very nice...
So for some people reading this the Corsa-e is already a steal!
But let's look at people driving a modest 15k km a year. Their advantage is €1500/yr.
For most of them, paying €15k with a payback time of around 10 years might be daunting.
Which is why we have tax incentives.
But let's look at people driving a modest 15k km a year. Their advantage is €1500/yr.
For most of them, paying €15k with a payback time of around 10 years might be daunting.
Which is why we have tax incentives.
The road tax (MRB) exemption saves you another €500/yr.
Or you could say you now save €500/yr in tax and €1500/yr in gas+maintenance. €2000/yr in total.
So your pay back period is now €15k/€2000=7.5 years.
That's an interest rate of 11%: not bad!
Or you could say you now save €500/yr in tax and €1500/yr in gas+maintenance. €2000/yr in total.
So your pay back period is now €15k/€2000=7.5 years.
That's an interest rate of 11%: not bad!
Of course it becomes even more interesting if you drive a business car and pay "bijtelling" of 7% instead of 22%.
Assuming 40% income tax you would pay 22%×40%×€20k=€1750/yr for the regular Corsa and 7%×40%×€35k=€980/yr for the Corsa-e. So you save another ~€750/yr.
Assuming 40% income tax you would pay 22%×40%×€20k=€1750/yr for the regular Corsa and 7%×40%×€35k=€980/yr for the Corsa-e. So you save another ~€750/yr.
Your total advantage is now €2000+€750=€2750/yr.
Your payback time is 15000/2750 or 5.5 years. That's an interest rate of 14% on the extra €15k!
Your payback time is 15000/2750 or 5.5 years. That's an interest rate of 14% on the extra €15k!
So I would say that for most people right now in the Netherlands, the Corsa-e is not expensive at all but rather a way to save money.
And I would certainly try to drive it because the driving experience of an electric car is usually that of a more expensive fossil car.
And I would certainly try to drive it because the driving experience of an electric car is usually that of a more expensive fossil car.
That said, this is for NEW cars. If you are in the market for a second hand car, this is probably much too expensive.
And although second hand EVs are a good value for money, they are scarce and many 1st gen vehicles have limited range.
And although second hand EVs are a good value for money, they are scarce and many 1st gen vehicles have limited range.
