Are electric cars cheaper than petrol cars? Data says yes

The sticker price of electric vehicles is falling in Australia, with one-third slipping under the $40,000 barrier this week and one of the country’s most popular models reduced to its lowest cost to date.

But according to research and experts, the lower prices do not reveal the full savings the technology can deliver for motorists.

Price parity with petrol and diesel vehicles could be less than four years away, a study shows, and potential fuel and maintenance savings means some owners are already cutting their transport costs “from day one”.

And with electricity from the right source, they say EV drivers could save more than the studies estimate.