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Ogilvie True Cost figures build case for fleet electric vehicles

By / 8 months ago / UK News / No Comments

Ogilvie Fleet has published new ‘True Cost’ WLC figures for electric vehicles, showing how electric vehicles are, in many cases, working out the same or lower cost than petrol or diesel cars for fleets to run.

The leasing and fleet management giant has added EVs to its True Cost matrix to help make fleet comparisons easier between EVs and petrol and diesel cars. By including precise running costs for vehicles, building on conventional whole-life costs, the calculations are intended to provide a clear insight into operations.

The results are rather interesting and build a case for electric vehicles on fleets.

Figure for the Kia Niro 1.6 GDi Hybrid reveal an Ogilvie True Cost figure of £475.23 a month compared to £421.64 for the e-Niro fully electric version, both in ‘3’ specification.

For the Peugeot 2008, the 1.2 PureTech petrol comes in at £473.63, the diesel at £465.91 and the e-2008 at £460.04 per month; all in GT Line trim.

The figures also reveal that the petrol, diesel and electric Peugeot 208s in GT Line grade all come out very much similar in term of monthly WLCs; the 1.2 PureTech petrol is £432.70, the diesel is £432.65 and the e-208 is £438.75.

The biggest difference however is seen in Ogilvie’s figures for the Mini hatchback where the electric model clearly costs less to run; the 1.5-litre Cooper Sport is £436.79 per month while the Mini Electric Cooper S is £363.52.

Ogilvie’s new calculation for EVs is based on key information such as electric range, battery capacity and the cost of electricity – currently around 15p per kW/h in the UK – as well as the costs associated with NICs and relevant corporation tax savings to actual and direct fleet costs. The leasing giant said this builds up an extensive picture of each company vehicle enabling companies to make the best possible decision for their businesses.

Ogilvie can construct an entire car policy using OTC as well as providing a full, bespoke, online quotation system that allows drivers to select only those vehicles that fall within their OTC band – now being done by the majority of Ogilvie clients operating more than 50 vehicles.

“The company vehicle landscape is changing very quickly which has made it more difficult for fleets to compare models with different engines like-for-like,” explained Nick Hardy, Ogilvie’s sales and marketing director.

“Our True Cost matrix provides a new level of data for fleets that will enable them to make more informed decisions on car choice. This takes our True Cost matrix to another level,” he added.


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Natalie Middleton

Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news - or gossip.