The so-called ‘green premium’ on electric vehicles has been overtaken by the fuel crisis and prospective car buyers are seeing electric vehicles €2,375 lower on average than their fossil fuel-dependent counterparts.
New analysis from Nevo.ie claims upfront costs and daily running expenses are tipping further in favour of electric cars for Irish motorists
It claims electric vehicles are now cheaper to buy, on average, than Ireland’s most popular petrol and diesel cars.
“Owning an EV is really starting to make sense to more Irish drivers”
The study, carried out by the electric vehicle marketplace, examined pricing data from the start of the year and found that the country’s 10 best‑selling electric models have an average price of €37,774. Over the same period, the average price of the top 10 petrol and diesel models stood at €40,149, placing battery electric cars €2,375 lower on average.
Derek Reilly of Nevo.ie said the findings reflect a significant shift in the market.
“For a long time, price has been a huge factor stated by drivers stopping them going electric, there was a ‘Green Premium’” he explained.
“This is no longer the case. This research, adding to the lower running costs and total cost of ownership that goes hand in hand with owning an EV is really starting to make sense to more Irish drivers.”
Lower running costs are a tipping factor
Running costs remain a major part of that calculation. Data from the Sustainable Energy Authority of Ireland’s most recent quarterly fuel price comparison shows that the average cost of driving an electric vehicle 100 kilometres in Ireland is €3.12.
Covering the same distance in a diesel car costs an average of €8.75, while petrol cars cost €9.32 per 100 kilometres. The SEAI notes that these figures are based on average prices and do not yet reflect recent increases at the forecourt.
Vehicle preferences also play a role in this shift. Sport utility vehicles continue to dominate sales across all fuel types, with nine of the top 10 best‑selling models falling into the SUV category. According to Nevo.ie, this reflects a strong preference among Irish drivers for a higher, more upright driving position, a factor that has carried across into electric car demand.
Using the SUV segment as a reference point, the platform modelled the potential savings between a typical diesel SUV and a comparable electric vehicle. The analysis assumes a daily commute of 35 kilometres over a 30‑day month, totalling 1,050 kilometres.
A 1.5‑litre diesel SUV with fuel consumption of 6.0 litres per 100 kilometres would use approximately 63 litres of diesel over that distance. At a pump price of €2.14 per litre, the monthly fuel cost comes to €134.82.
An electric vehicle with a 60 kWh battery and an efficiency rating of 18 kWh per 100 kilometres would consume about 189 kWh of electricity for the same mileage. Charged at a typical home electricity rate of €0.18 per kWh, the monthly cost would be €34.02.
Based on these assumptions, the difference equates to a saving of around €101 per month, or roughly €1,210 per year, on commuting costs alone.
While Nevo.ie notes that individual savings will vary depending on driving habits, energy tariffs and vehicle choice, the organisation says the figures highlight how changes in vehicle pricing and energy costs are reshaping the economics of car ownership in Ireland.
Taken together, the narrowing purchase prices and lower day‑to‑day running costs suggest that electric vehicles are increasingly competing on practical financial terms, as well as on environmental grounds, in the Irish market.
-
Bank of Ireland is welcoming new customers every day – funding investments, working capital and expansions across multiple sectors. To learn more, click here
-
For support in challenging times, click here
-
Listen to the ThinkBusiness Podcast for business insights and inspiration. All episodes are here. You can also listen to the Podcast on:
-
Spotify
-
SoundCloud
-
Apple
