ADAC ANALYSIS SHOWS BEVs ARE NOW BEATING ICEVs ON CUSTOMER COST
- VW ID.3 and Hyundai Ioniq show the clear advantages
- Tesla Model 3 NOT included in the analysis
ADAC COMMENTARY :
The total cost calculation uses a five-year holding period and 15,000 km/year
The VW ID.3 clearly beats comparably powered and equipped VW Golf petrol and diesel models when taking into account the electric purchase subsidy
The reasons for this are the lower depreciation in absolute terms, the lower fixed costs with no vehicle tax, and above all the significantly better insurance type classifications of the ID.3
In addition, there are the lower operating costs and also the lower workshop expenses, especially inspection and maintenance compared to the combustion engine
In ADAC's sample calculation, the petrol-engined Golf can only overtake the electric ID.3 with a hefty 15% discount on the purchase price
In the case of the diesel Golf, an even greater discount would have to be negotiated in order to match the kilometre costs of the ID.3
The ID.3 also compares favourably with comparable electric models from the competition
Compared to the Hyundai Ioniq, Kia e-Niro and Nissan Leaf, the predicted lower depreciation and the better insurance rating come into play
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That and the 3,000 euros (net) manufacturer's contribution to the electric car premium put the price into perspective somewhat, but the test car still remains an expensive car in its class
This does not take into account that the software is not yet ready in important parts and has considerable bugs - the vehicle should not really be sold in this form yet
This gives customers little pleasure, but all the more frustration due to the dropouts and malfunctions
The German automobile club ADAC publishes information on vehicles sold in its market, including Cost of Ownership analysis like the one summarised here for VW Golf
The starting points are List Price, Time Horizon, and Annual Mileage
The results are provided in the form of monthly costs in four categories and then converted to Euro cents per km as shown here for the 17 different versions of the VW ID.3
ADAC METHODOLOGY
Calculation basis for the standardized car cost calculation
1. HOLDING PERIOD
- 24 to 60 months with a standard of 60 months
2. MILEAGE
- 5,000 to 60,000 km per year with a standard of 15,000 km per year and a maximum cumulative total of of 160,000 km
Jidu Auto, an electric vehicle venture between China’s tech giant Baidu and Chinese automaker Geely, aims to plough 50 billion yuan ($7.7 billion) into producing smart cars over the next five years, its chief executive told Reuters
Xia Yiping said on Friday that the funding would come from Baidu and other investors and Jidu would aim to launch its first electric vehicle EV in three years, as is standard for the industry, but would make efforts to speed this up
Its first EV would look like a "robot" and would target young customers, Xia said, adding that Jidu would analyse big market data before deciding on a final model
1. We are already in a period of automobile Supply Shortage relative to Natural Demand
That Supply Shortage has the potential to total up to as much as 600 million vehicles during the 15 years through 2034
2. This 600 million vehicle Supply shortfall will represent a huge portion of the Global Vehicle Fleet, which is only around 1,500 million vehicles today
- and it will be due to Battery Supply limitations
3. One consequence of this lack of new vehicles may be to raise the value and longevity of Used Vehicles during those "Supply Shortage Years" beyond what many of us are expecting