EV running costs in 2026: do the numbers still work?

RUC charges are locked in, power prices keep climbing, and used EV prices have settled. We run the real numbers on the Leaf, Outlander PHEV, and MG ZS EV for Canterbury buyers.

Used EV prices have come back to earth. A 2015-2017 Nissan Leaf with a 30kWh battery is sitting at $12,000-$17,000 depending on condition and State of Health. A 2019-2021 MG ZS EV is around $25,000-$32,000. The Mitsubishi Outlander PHEV, arguably the most pragmatic option on this list, runs from $28,000 for a 2016 model up to $45,000 for a 2020-21 with low kilometres. The question is whether any of them actually save you money against a comparable petrol car in 2026, once you account for RUCs, power costs, and real-world depreciation.

The short answer is: yes, but less than you'd have thought three years ago, and it depends heavily on which car and how you use it.

Nissan Leaf: still the entry point, but check the battery first

The Leaf is the most common EV on NZ roads, and for good reason. Parts are well supported, there's a local knowledge base, and the running costs on a healthy battery are genuinely low. The problem is battery degradation. The older 24kWh Leaf (pre-2016) has no active thermal management, which means hot and cold cycles eat the pack over time. A 2013 Leaf claiming 24kWh might realistically deliver 14-16kWh of usable range in Canterbury winter conditions, which puts real-world range under 100km.

For a 2016-2018 Leaf with 30kWh and a State of Health above 85 percent, you're looking at roughly 160-180km of real-world range in temperate conditions, less in winter. At 15,000km per year, annual RUCs come to $1,140. Charging at an average blended rate of 22 cents per kWh and assuming 18kWh per 100km of real-world consumption, your electricity bill for that distance is around $594. Total energy and road user cost: roughly $1,734 per year. A petrol Corolla doing the same distance at 7L/100km and $2.70/L costs about $2,835 in fuel alone, before road user costs are included in the petrol price. The Leaf still wins, but the gap is around $1,100 annually rather than the $2,000-plus it was when power was cheap and RUCs were free.

Servicing on the Leaf is genuinely low. No cambelt, no oil, brake wear is reduced by regenerative braking. Budget $300-400 per year for a WoF and basic inspection. The vulnerability is the battery: a replacement 30kWh pack from a Japanese import channel runs $4,000-$7,000 fitted, depending on who does the work. Know the State of Health before you buy.

MG ZS EV: newer tech, higher entry cost, better range

The MG ZS EV (2019-2021, 44.5kWh) is a different proposition. You're buying a proper five-seat SUV with 250-280km of real-world range, active battery management, and a vehicle that doesn't feel like a compromise. The trade-off is the entry price and some uncertainty around long-term parts support for MG in New Zealand.

At 15,000km annually, RUCs are the same $1,140. Energy consumption on the ZS EV is around 17-18kWh per 100km in mixed driving, so the electricity cost is similar to the Leaf at roughly $560-594. Running costs are comparable, but you've paid significantly more for the car. Against a Toyota RAV4 petrol at $2.70/L and 8.5L/100km, the ZS EV saves around $2,300 in fuel annually, which starts to justify the higher purchase price over a four to five year horizon, assuming the battery holds.

The concern with the ZS EV at 80,000-100,000km is that there's limited local data yet on how these batteries age in NZ conditions. MG's warranty support has improved, but independent repair options are narrower than for the Leaf or the Outlander. Parts from the UK or Australian supply chains add wait time and cost.

Outlander PHEV: the honest compromise

The Outlander PHEV is the one to recommend if someone is anxious about range or charging infrastructure. It runs on a 12kWh usable battery pack giving around 40-50km of EV-only range, after which a 2.4-litre petrol engine takes over. It pays RUCs only on the electric distance travelled, which NZTA calculates via odometer and charging data. In practice, a driver doing mostly short urban trips and charging nightly will pay significantly less in RUCs than one who relies on it as a straight petrol car.

The 2016-2018 Outlander PHEV is a known quantity. Mechanically, Mitsubishi got the drivetrain right by the second generation, and these are now well-documented in NZ. The EV battery on high-mileage examples does degrade, and a 2016 model at 130,000km might deliver 30-35km of EV range rather than the original 50km. That's still meaningful for daily use. Servicing costs are higher than a pure EV because there's still a petrol engine, coolant, spark plugs, and a belt to worry about. Budget $700-900 per year in servicing at a competent independent workshop.

For Canterbury buyers doing mixed driving with occasional longer runs to the coast or inland, the Outlander PHEV is the least risky option. The range anxiety problem simply doesn't exist, and fuel consumption in hybrid mode sits at 6.5-8L/100km depending on how depleted the battery is when you hit the open road.

The numbers across all three have tightened, but they haven't flipped. If you're buying on a five-year view and charging at home, used EVs still make financial sense in 2026. The margin is just thinner than it was, and the due diligence on battery condition matters more than it ever did.