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Oil companies lose 500 euros for every electric car sold

Each car running on fossil fuels - gasoline or diesel - not sold, means a loss of € 500 for oil companies, which in turn is a gain of € 500 for electricity trading companies!
The study by Bank of America Merryl Lynch concluded that the paradigm shift in sales of new combustion cars by new electric cars implies a reduction in oil companies of 500 € per year for each sale, an amount similar to the gain that electricity they receive.
Taking the example of the Audi Q5, for the all-electric Audi E-Tron, it leads to a loss for oil companies of around 450lbs (about 500 €), in the meantime, the electricity companies see 430 pounds (about 480 €), due to the increase in electricity consumption.
The report also indicates that this transition to electric vehicles leads to a decrease in profits from the marketing of oil companies, which represent about 13% of the profits of these companies. And this is due to the lack of customers at gas stations, where coffee is sold or displays advertising.
Is it the “death” of the gas stations?
In this sense, the report considers that traditional gas stations are going through a bad period, as the new electrical ecosystem is being called the “smartphone model”. That is, it is charged at home, which would make fast charging outside the home unnecessary (and more expensive), and this type of charge threatens battery life.


Electric car - Audi E Tron Quattro

Furthermore, most daily commutes rarely exceed the range of electric cars, so consumers find it more convenient to charge at home, and it is cheaper to charge at night, taking advantage of the reduced fare hours.
This is thus the justification for companies dedicated to oil extraction and refining to start changing their business model, betting on “New Energies”, in order to be able to suppress the 90% of losses due to the transition to electric vehicles by the consumers.

The State also loses revenue
But it is not just oil companies that will lose out with this paradigm shift in the acquisition of new vehicles. The state also loses money, with the study indicating an estimated loss of revenue of £ 1100 (about € 1200) for each vehicle sold.
Since 60% of the losses are justified by the absence of taxes from gasoline / diesel not sold, 25% of the credit available for the acquisition of the new electric car and 10% of the reduced or no circulation tax for “clean” vehicles. if governments eliminate all subsidies to encourage the purchase of electric vehicles, the loss would be £ 800 (about € 900).
On the other hand, there are those who win, such as insurers, who saw their revenue increase by GBP 240 (about € 270) due to the increase in the purchase price of the vehicle and the suppliers of charging points that received over 90 sterling (about € 100).

Renewable Energy Magazine