EV vs Petrol Car: A Cost Comparison Over 5 Years
With the rising fuel prices and increasing awareness about sustainability, many consumers are debating between purchasing an electric vehicle (EV) or a traditional petrol-powered car. While EVs often have a higher upfront cost, they offer long-term savings on fuel and maintenance. In this blog, we analyze the 5-year cost comparison between EVs and gas cars to determine which one is truly more cost-effective.
1/10/20251 min read
Cost Breakdown Over 5 Years
Purchase Price & Incentives
EVs: Typically cost between ₹12 lakh to ₹30 lakh, but government incentives and tax credits can reduce the cost by ₹1-3 lakh.
Petrol Cars: Usually range from ₹7 lakh to ₹20 lakh, with fewer incentives available.
Verdict: EVs have a higher upfront cost but benefit from incentives that lower the effective price.
EVs: Charging at home costs around ₹2-3 per km, and public fast-charging is slightly higher.
Petrol Cars: Petrol prices fluctuate but average ₹8-10 per km.
5-Year Total:
EV: ₹1.5 lakh - ₹2 lakh (charging costs)
Petrol Car: ₹5 lakh - ₹7 lakh (fuel costs)
Verdict: EVs provide over 60% savings in fuel/charging costs over five years.
Fuel vs. Charging Costs
Maintenance & Repairs
Resale Value
EVs: Fewer moving parts mean lower maintenance costs (₹10,000 - ₹15,000 per year).
Petrol Cars: Require frequent servicing (oil changes, engine maintenance) costing ₹20,000 - ₹40,000 per year.
5-Year Total:
EV: ₹50,000 - ₹75,000
Gas Car: ₹1.5 lakh - ₹2 lakh
Verdict: EVs win with lower maintenance expenses.
EVs: Battery performance impacts resale value; newer models hold value better.
Petrol Cars: Traditional cars generally depreciate 40-50% in 5 years.
Verdict: EV resale values are improving but still vary based on battery life.
Conclusion
While gas cars may seem cheaper initially, EVs offer long-term savings in fuel and maintenance, making them a smarter investment for cost-conscious buyers.
Call to Action
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