Gomev
Distinguished Member
I think this is confusing total cost of ownership and running costs, and I don't think they can be conflated.If you are going to quote p/mile you really need to include the capital cost of the vehicle. Currently I'm running at just under £2/mile having done 12,000 miles in 13 months.
My previous ICE which I had for about 2 years till it died ended at about 24p/mile, and the one before that I had from new for 14 years till that died ran out at 18.2p/mile - total lifetime costs including tax, tyres, servicing and £50 back from the scrap dealer at the end.
To match that the MG5 will need to get close to 140,000 miles with mostly free (local solar) leccy. At current rates that means about 11 years, by which time the battery will be getting pretty knackered.
Of course in 11 years the price of petrol might be around that of vintage champagne today plus all of the black swans (positive and negative) flying around just out of sight.
My point being that current p/mile for fuel only is a pretty meaningless comparison - the £5k (minimum) premium that you pay for a new EV rather than equivalent ICE is going to add 5p/mile over 100k miles anyway.
In your example you are including the purchase price of the car to get £2/mile. What if you sell it next week, your figures will change as you will need to use purchase price minus selling price. There are far too many variables in your method to make viable comparisons.
Using your method someone who replaces their car every two years and does high mileage will have have a lower cost per mile than someone who does low mileage and keeps their car for 10 years.