Electric cars put on the market by leasing companies typically have a higher monthly price than conventional cars, according to new analysis by the European Federation for Transport and the Environment (T&E).

According to the data available to it, the lease of an electric vehicle can be increased even more than 50% of the monthly value of a corresponding gasoline model.

For example, leasing an electric Peugeot 208 costs around €574 per month, while a petrol Peugeot 208 is €371. Of course, it is known that the main factors shaping the monthly lease are the initial value of the car, the additional equipment, the possible additional benefits, the duration of the lease, the lease without the right of redemption by the customer, the lease with the right of redemption, the number of kilometers the car will travel each year, the residual value of the vehicle at the end of the lease, the loan interest rate and whether or not the customer will give a down payment.

Leasing companies give electric cars a higher price, because they expect electric cars to lose more in value than conventional cars in the coming years, but also because they currently have a higher purchase price than them. But the fact that electric cars are expected to lose some of their value is rejected by an analysis carried out by T&E, as the prices of around 2.7 million used cars showed that the prices of electric cars are almost the same as conventional cars. In the largest European markets such as Germany, France and the United Kingdom, the values ​​of electric and conventional cars are almost the same, while there is a small difference in Spain, which, however, decreases over time.

The study also confirms that consumer demand for electric cars, new and used, has been high in recent years. Leasing companies that own a fleet of around 12 million vehicles in Europe are increasingly getting into electrification. In fact, in the future they are expected to play an important role in the transition to electrification.

T&E electric fleet manager Stef Cornelis said: “Today, customers are being overcharged by leasing companies in case they want to switch to electric mobility. Leasing companies are very conservative when setting their monthly rates. Their prices reflect the situation five years ago. With this pricing strategy, their profits are obviously high and consumers are overpaying to go electric. At the same time, this situation is harming the transition to electrification.”

It is worth noting that in 2022, company electric cars accounted for 22% of new car registrations in Europe, according to the study.