EVs Will Be Economical In The Long Run: Mercedes-Benz India

As electric vehicles (EVs) continue to gain traction in the market, salaried individuals are discovering that making the switch to an electric vehicle like the EQA can be both economically and environmentally advantageous, according to Mercedes-Benz India. At the India unveil of the new EQA electric SUV, the company said that for salaried personnel with a monthly income of ₹75000, the EQA presents a compelling case as a more economical and sustainable choice compared to traditional ICE vehicles. The substantial savings in fuel and maintenance costs, combined with environmental benefits, make the EQA a forward-thinking option for those looking to make smart financial and ecological decisions.

We compared the costs associated with an electric vehicle, and a traditional internal combustion engine (ICE) vehicle over four years revealing significant savings and sustainability benefits.

Cost Comparison: EQA vs. ICE

Despite a slightly higher EMI for the EQA, the overall monthly expenses are lower due to reduced fuel and maintenance costs. The monthly savings with the EQA is about ₹5,000, which over four years, amounts to a total savings of ₹2.40 lakh.

The upfront costs for both vehicles include a down payment of ₹14 lakh and the analysis assumes an average running of 2000 km per month for a petrol car. When considering the total cost of ownership, including fuel, maintenance, and EMI payments, the EQA emerges as the more cost-effective option. Moreover, the EQA offers additional financial benefits through depreciation. Electric vehicles tend to depreciate at a slower rate compared to their petrol counterparts, enhancing the long-term value for owners.

Switching to an EQA isn't just about financial savings. Electric vehicles contribute significantly to reducing greenhouse gas emissions and reliance on fossil fuels. By choosing an EV, salaried individuals can make a positive impact on the environment, contributing to cleaner air and a reduction in carbon footprint.