What are the total costs of EV ownership in New Zealand?

by Frano Covic

As the petrol industry faces one of its biggest crises in the last two centuries, more consumers are asking themselves these questions:
  • How much does an electric vehicle cost in the long term?
  • Are there any hidden costs after buying an electric vehicle?
  • How much does it cost to have an EV charger installed at home?

This is what we are here today to find out. Consumers want straight answers, especially when it comes to understanding new technology. So as we prepare to bid fossil fuel cars farewell and get ready to embrace everything EV, what are the key questions that need answers so that we might gain a better understanding of this younger, more sophisticated technology?

Fact: EVs are cheaper to run and maintain compared to petrol powered vehicles

Although the upfront costs of EV ownership are higher compared to petrol cars, electric cars are cheaper to use on the road. The long-term savings the consumer makes on EV maintenance and running costs outweigh the initial higher financial outlay when buying it.

Electric vehicle owners save approximately two thousand dollars a year compared to what is spent running a petrol car. So, the answer to anyone wanting to know how EV ownership impacts petrol bills and other transport costs is around $2,000 per year in savings.

It might interest you to know that the New Zealand transport administration is offering a range of discount policies which will, in turn, reduce the consumers’ up-front costs when buying any electric vehicle.

In New Zealand, the registration of any new or pre-owned EV or hybrid vehicle for first-time owners means you are automatically eligible for the rebate. Additionally, electric vehicle drivers are exempt from Road User Charges up until 2024.