One of our neighbours is looking to change his car (Audi A3) and having been in my car a few times is impresed with it.
He has been doing the rounds of the various brands and has spent a fortune on magazines to swat up on road tests and reviews (he does not use the Internet) - but keeps coming back to the KIA Niro.
He told me yesterday that he has ordered an e-Niro but it is on a 12 month waiting list. He likes the Niro, it's cost and especially the 7 year warranty and would welcome the promised (by the salesman) massive saving in running costs being free from having to buy petrol.
He tells me that him and wife do a maximum of 8000 miles per year split 60/40 beteween short and long journeys.
It got me wondering whether there really was a financial advantage and this morning had nothing better to do than do some rough comparisons.
Using the KIA published economy data on the various Niro models, his forecast mileage, petrol at £ 1.30 a liter, home electricity at £0.16 per kWh, average public charging point electricity at £0.42 per kWh and the published fact that the e-Niro averages 4.1 miles per kWh - I made the following comparisons.
The basic Niro Hybrid fuel would cost him £ 786 per year and the car selling price is £28,000
The plug-in Niro would cost at least £48 in electricity and £ 262 for petrol. Total £ 310 per year. The car selling price is £32,000
The e-Niro would cost £230 in electricity assuming 71% is charged at home and the rest in public charging points which can cost as much as £0.54 per kWh and as little as £0.24 - the weighted average being £0.42. The car selling price is £33,000
Taking the basic Hybrid as the comparison base with a fuel cost of £786 p.a
The Plug-In Hybrid with a fuel cost of £310 gives a saving of £476 p.a but the extra car price of £4,000 means it takes 13 years to break even.
The e-Niro with a fuel cost of £230 p.a gives a saving of £556 but the extra selling price of £5,000 means it would take 9 years to break even. This model has a range of 280 miles (but we are driving up the Scotland on Friday and will have a 364 mile journey - hence we would need to find somewhere to recharge the car on the way up - and again back home. Range anxiety would drive me nuts.
I had a chat with him this afternoon and left him with something to think about.
