BEVs increasingly cost competitive across Europe, says Ayvens

BEVs are now cost competitive with ICE vehicles across many European countries, says the 2025 Car Cost Index, published by Ayvens. BEVs are competitive particularly in the compact (C1) and premium mid-sized (D2) segments. Greece, Sweden and Finland offer the lowest BEV leasing costs. 

The Car Cost Index analyses the monthly Total Cost of Ownership (TCO) for subcompact (B1) to mid-sized passenger cars across 28 European countries (all EU members except Cyprus and Malta, plus the UK, Norway and Switzerland). 

Within 5%

The analysis is based on a four-year operational lease contract for corporate customers, with a 30,000-km annual mileage. A BEV is considered cost competitive if its TCO is within 5% of a comparable ICE vehicle. 

BEVs are the lower-cost lease option in a growing number of countries and vehicle — segments, in large part due to the lower cost of energy (15% of BEV TCO overall) compared to the cost of fuel (23% of petrol car TCO, 28% for diesels). BEVs also have reduced maintenance costs, which helps their TCO. 

(Energy costs for BEVs are calculated assuming 70% home charging, 20% office charging, and 10% public charging).

“Increasingly viable”

According to an Ayvens spokesperson, the index demonstrates that “EVs are becoming increasingly viable from a cost perspective, not just an environmental one.” 

In the Compact (C1) segment, BEVs have a lower TCO than ICE vehicles in 18 out of 28 countries examined. This segment is the most competitive for Evs, due to the availability of affordable EV models and strong incentives in these markets. In the Mid-Sized Standard (D1 & SUV D1) segment, BEVs are less competitive, with lower TCO in only 11 countries. This is due to higher upfront costs and limited model availability. In the Premium Mid-Sized (D2 & SUV D2) segment, BEVs are highly competitive, with TCO within 5% of ICE vehicles in all 28 countries. In some markets, BEVs are cheaper, driven by premium EV offerings and tax benefits.

The average cost to lease a BEV across all 28 markets is €1,090 per month. Country-specific factors such as taxes, electricity and fuel prices, and government incentives continue to play a key role in shaping BEV competitiveness. The cheapest countries are Greece (€815/mth), followed by Sweden and Finland (both below €820/mth). The most expensive country is Switzerland (€1,252/mth). 

The D2 segment’s near-universal competitiveness suggests premium mid-sized EVs benefit from consistent tax breaks and model availability across Europe.

As EV infrastructure and policies evolve, BEVs are poised to further close the TCO gap, especially in countries with supportive frameworks.

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