Best in class Whole-life cost analysis: Mid-size EVs
Perhaps the Tesla Model 3 has had things its own way in the mid-size EV class for too long, as BMW has come in with a strong contender in the form of the i4. But can it take best-in-class honours?
BMW i4 Martyn Collins
Launched late last year alongside the controversially styled iX Sports Activity Vehicle (SAV), the i4 is more conventional and is in the heartland of fleet, looking like an electric version of the 4 Series Gran Coupe. But while it might look like a 4 Series, there are significant differences. At the front, those big kidney grilles are almost sealed, because the air flow isn’t needed with the electric motor. You’ll also spot the unique bumpers, plus the tracks are wider (although this is most obvious on the M-enhanced M50 range- topper). The batteries are hidden in the floor, equalling a lower centre of gravity, although you can’t tell from the outside. Inside, being based on the same CLAR modular platform as the ICE-engined 3 and 4 Series models, the i4 is an attractive mix of new and nearly new BMW. The most distinctive feature is the large, curved display that is made up of a 14.9in infotainment touchscreen and 12.3in driver display. The nearly new is the lower half of the dash and the centre
55.48p Cost per mile
console, with their physical rather than touchscreen controls. Like the 3 Series and 4 Series before it, space at the front is fine and the driving position is excellent. Although legroom in the back of the i4 is more compromised, plus the curved roofline of the fastback shape eats into the available headroom. The i4’s hatchback opens to reveal a practically shaped 470-litre boot.
The i4 is available in 40 and M50 versions, with the 40 available in familiar Sport and M Sport equipment grades. The BMW i4 eDrive40 Sport and BMW i4 eDrive40 M Sport, that we’re focusing on here, combine a 340hp electric motor with rear- wheel drive, giving a WLTP-calculated range of up to 365 miles.
The range-topping i4 M50 is also the performance model, developed by BMW M GmbH. It is equipped with electric motors at both the front and rear axle, with a combined maximum output of 544hp and M-specific chassis technology. Yet despite the exceptional performance, it is still able to achieve up to 316 miles on the WLTP test cycle.
Residual value: 46.86% Depreciation: £28,350 Fuel costs: £2,531 SMR: £2,411
On top of the impressive performance and range of the i4, this BMW offers flexible charging options. Most notably, its Combined Charging Unit allows use of DC high-power charging stations, with an output of up to 200kW. BMW is claiming 102 miles (i4 eDrive40) and 87 miles (i4 M50) of charge being delivered in just ten minutes at chargers of this kind. BMW tells us that early corporate demand for the i4 is split fairly evenly between the two models. We’ve decided to focus on the single engine 40, because it is lighter, the performance is still more than adequate, and in our opinion, it still drives like an ICE-engined BMW. These EV models share the same 2% BIK figure, but the BMW finishes in last place for 20% and 40% monthly figures. But don’t hold this too much against it, as there’s only £2 between the i4 and the winner, the Mustang, at 20% and £4 between it and the Ford at 40% – and not much between the rest here either. Any EV capable of over 300 miles
BMW i4 eDrive40 M Sport
P11D: £53,350 CO2 (tax)*: 0g/km (2%) BIK 20/40% a month: £17/£35 Range: 365 miles National Insurance: £368 First year VED: £0 Subsequent VED: £0 Engine size/power: 80.7kWh/340hp AER: 5p *from April 2022
to a charge is at the top of the fleet car pile in our opinion. The BMW boasts a more than respectable 365-mile range, yet impressive though this is, the i4 is beaten to third place here by the Tesla (374-mile range) and the Ford (379-mile range). German brands, such as BMW, have always tended to perform well when it comes to residuals, yet according to our figures from Key Resources, the 46.86% figure and fact it’s the newest model here aren’t enough to secure victory. The i4 is pushed into third place behind the Tesla and Ford. The fact the i4 finishes in last place for depreciation, with a £28,350 figure, is rather disappointing too. We believe the BMW’s poor placing here is mostly the result of its high list price – its P11D value is the top at £53,350, although the BMW does have the second-lowest SMR costs at £2,411.
48 | March 2022 |
www.businesscar.co.uk
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