An EV has become attainable for the first time to motorists wanting to drive greener and not blow the budget.
So says the Royal Automobile Club of Queensland (RACQ) in releasing its latest annual report on the cheapest and dearest cars to own and operate.
The Hyundai Ioniq rates well in terms of affordability in the RACQ’s 2019 Vehicle Running Costs survey which studied a record-breaking 141 popular vehicles.
The survey takes into account all expenses associated with normal private car ownership including loan interest, fuel, new tyres, servicing, insurance, government charges and depreciation.
The dearest EV was the Tesla Model X 100D at $25,500 a year, but there is finally a more affordable, energy efficient alternative available for those wanting an EV, RACQ technical and safety policy head Steve Spalding says.
“This year we were able to assess the Hyundai Ioniq which blew Tesla out of the water in terms of affordability costing less than half the price at just under $10,000 a year to keep on the road,” Spalding says.
“Drivers need to be aware the Hyundai Ioniq has a higher purchase price than other small cars, so they need to weigh up the depreciation and interest costs with the fact they won’t be paying as much for fuel and will save on servicing before they opt for this vehicle.”
Spalding says the report again highlights huge savings which can be made each year if motorists either downsize or seek the cheapest in class.
“Drivers can save a lot of money by making informed choices when buying a car.”
An increasing number of affordable EV models are expected on the Australian market shortly.
For the full report click HERE.
