EVs cost more to run than petrol cars
The reality
EVs are cheaper to run, not more expensive. The RACV's 2025 running-cost guide found Australian EV drivers save between $1,500 and $3,000 per year on fuel and servicing compared with an equivalent petrol car. The fuel saving alone is the biggest line item: at typical 2026 Australian rates (~30c/kWh home electricity, $1.85/L petrol), running a Tesla Model 3 Long Range costs about $0.04 per km versus around $0.18 per km for a Toyota Camry — a 4× difference at the bowser.
Servicing adds another structural saving. Electric drivetrains have around 20 moving parts versus more than 200 in an internal-combustion engine: no oil changes, no spark plugs, no fuel filters, no exhaust system. The RACV puts EV annual servicing at $150–250 against $700+ for a petrol car of the same class.
Five-year resale also tracks higher for popular EV models thanks to surging demand for used EVs in Australia — RedBook's 2026 depreciation curves give well-known EVs a ~50% residual at five years versus ~45% for an equivalent petrol car.
The full picture, with your own kilometres and tariff, is in our Total Cost of Ownership calculator.