We used the baseline model to get the cheapest price advertised by Hyundai in Australia for the Kona electric and Kona petrol cars, and the UK price for the Kona Hybrid before converting the currency using XE Currency Converter on 23/02/2022.
To calculate registration, we used the Queensland Government’s transport and motoring registration guide3 to get an estimation of registration renewal costs. Note that a first-time registration could incur higher costs.
The costs of running the petrol and hybrid versions of the vehicle were calculated by combining the vehicle’s range with the average petrol cost of $2.20 per litre, which reflected a common price of petrol in Brisbane in March 2022. We based the annual costs on the assumption the vehicle would be driven 15,000 kilometres per year.
The cost to recharge the electric version was based on an electricity tariff of 20.29 cents per kWh combined with the battery capacity of the vehicle. This electricity tariff represented an average of Tier 1 retailers in Queensland that are on Compare the Market’s panel, based on a single rate tariff that does not take into account solar or supply charges.
Insurance was calculated using Compare the Market’s free comparison service, based on comprehensive insurance for a white 2021 model with no finance or hail damage, garaged in Brisbane and driven by a 31-year-old male with no previous claims in the past five years. We used the quotes available to calculate an average annual figure for the petrol and electric car and set the cost of insurance for the hybrid model in-between these two prices to provide an estimate, based on the fact the cost of the Kona hybrid purchase cost is between that of the petrol and electric version. While it is unrealistic to expect insurance costs to stay the same over an 18-year period we set them at a consistent price for ease of comparison.
Parts and servicing costs were based on average figures from Budget Direct’s article Car Running Costs in Australia 20204 and the Electric Vehicle Council Mythbusting5 page. This was supported by earlier research in an article by Lawrence Fulton in the Applied Sciences journal in 2018, which found maintenance costs for electric cars were roughly half of that of hybrids.6
These figures provided an annual operating cost of:
- Electric: $2,547.51AUD
- Petrol: $4,455.03AUD
- Hybrid: $4,009.82AUD
The figures used in this article are rough calculations based on available data and are intended as a guide and might not include every associated expense related to owning a car. Exact annual operational costs, such as the cost of registration, servicing or refuelling/recharging can change at any time. These calculations are also specific to the 2021 Hyundai Kona models and will differ for other vehicles based on their specifications.