11th Jan 2023 |
2 min read

New Fuel Cost Comparator tool launched to help EV transition

Volkswagen Financial Services Fleet (VWFS Fleet) has launched a new Fuel Cost Comparator tool to help drivers weigh up the charging costs for electric vehicles (EVs) compared with fuel costs for a range of equivalent petrol and diesel vehicles.

The tool allows drivers to compare fuel costs and, importantly, provides visibility of how the costs of different methods of EV charging compare, such as charging at home overnight vs. using the public charging network, and how these compare to the cost of filling up with petrol or diesel.

With the Electric Vehicle Home Charge Scheme (EVHS) only available to leasehold properties, and the focus shifting to investment in the wider charging infrastructure, drivers who are unable to install a home chargepoint but are looking to switch to electric may need to consider the running costs of public charging. Uniquely, VWFS Fleet’s comparison tool provides the costs for a single journey, annual mileage or contract mileage across home, public AC, DC rapid and DC ultra-rapid charging options.

VWFS Fleet’s Fuel Cost Comparator allows drivers to compare running costs for different vehicle types, from small hatchbacks and SUVs to premium EV models. The tool will provide businesses and drivers transparency on the savings that can be made by switching to electric and assist with forward budget planning.

Ahead of the UK government’s 2030 ban on petrol and diesel cars, the growth of the EV market is expected to accelerate in the coming years. Data from SMMT shows EVs (including battery electric vehicles, plug in hybrids and hybrids) account for over a third (34.1%) of all new car registrations in March 2022, up from 21.4% in March 2021.

Mike Coulton, Fleet Product and Policy Manager at VWFS Fleet, said: “As an increasing number of fleets transition to EVs, we know just how important it is for both drivers and fleet managers to have the full picture when considering the Total Cost of Ownership (TCO) of switching to electric, when compared with petrol and diesel vehicles. As part of our EVolve proposition, our new Fuel Cost Comparator is the latest way in which we are supporting our customers in making these decisions easy and relatable.

“We’re working closely with our corporate customers to identify where and how they can lower their fleet emissions. With the 2030 ban on new petrol and diesel cars now in sight, typically just two to three renewal cycles away, now is the time for businesses to look at where they can make changes to their fleet to start the transition as early as possible.”

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