One-year Cost Estimate
| Cost Factor | Electric Forklift | Diesel Forklift |
| Initial Price | £10,000 – £50,000 | £10,000 – £40,000 |
| Fuel/Energy | £500 – £1500 | £3,000 – £10,000 |
| Maintenance | £500 – £2,000 | £2,000 – £5,000 |
If you’re stuck between choosing an electric forklift or a diesel forklift for your business operations, it’s important to understand the costs of ownership. Understanding this is crucial for making the right choice.
While the cost of an electric forklift may appear higher upfront, they offer long-term savings on fuel and maintenance. Over time these benefits outweigh the initial cost, saving you money in the long-run.
The diesel forklift price is typically lower at purchase. However, unlike an electric forklift, they come with ongoing fuel expenses, emissions regulations and higher maintenance requirements.
In this article, we break down the key forklift costs of both electric and diesel to help you determine which option is the best fit for your business.
Electric Forklift Initial Price
The initial cost of a lithium-powered forklift varies depending on the model and your business needs. Due to reaping the benefits of advanced lithium-battery technology, electric forklifts are not the cheapest thing to buy.
On average, you’re looking at £10,000 to £60,000 for a new electric forklift. We understand this is a broad price range, so let us simplify this for you:
Electric Counterbalance Forklifts: Greenpower’s counterbalance forklifts range from £10,000 to £20,000. The higher priced ones offer extended lift heights and load capacity.
Electric Articulated Forklifts: You can pick up a Greenpower articulated forklift for £30,000 – £36,000. As articulated forklifts offer enhanced manoeuvrability in tight spaces, they’re valued at a higher price.
Electric Multi-Directional Forklifts: This type is the most expensive. Multi-directional forklifts have advanced steering technology, allowing them to move in multiple directions. This puts them in the £40,000 – £60,000 electric forklift price range.
Diesel Forklift Initial Price
Now we know how much an electric forklift will set you back, let’s delve into the upfront cost of a diesel one. To purchase a new diesel forklift it’ll cost you £10,000 – £40,000. The diesel forklift price depends on factors such as lifting capacity, brand and additional features. Larger models or those with advanced specifications may cost more. Smaller or more basic versions tend to be on the lower end of the price range.
Forklift Costs: Fuel and Energy
When making your decision between an electric forklift vs diesel forklift, it’s not just the initial purchase price you need to consider. It’s important to understand the long-term costs of ownership as well. Let us provide you with a detailed break down:
- Diesel Forklifts: Fuel costs can vary but commonly range from £1.50 – £2.00 per litre. Depending on your desired usage, this can lead to annual fuel expenses of £3,000 – £10,000.
- Electric Forklifts: Charging costs are much lower than fuel costs. It’ll cost £500 – £1,500 per year depending on usage and electricity rates.
Verdict: Electric forklifts save thousands annually on fuel/energy costs compared to a diesel model.
Maintenance and Repair Costs
The next important consideration when comparing forklift costs is maintenance and repair. Due to their complex combustion engines and mechanical components, diesel forklifts require more maintenance. Here’s a breakdown of the costs:
- Diesel Forklifts: Require oil changes, filter replacements and engine maintenance. Estimated annual costs are £2,000 and £5,000.
- Electric Forklifts: Fewer moving parts and no engine maintenance. Lithium batteries only require replacement every 5-10 years. Estimated annual costs are £500 – £2,000.
Verdict: Electric forklifts have lower maintenance costs due to fewer mechanical components.
Lifespan and Resale Value:
Lastly, both versions have notable different lifespans and resale values:
Diesel Forklift: Commonly lasts 10,000 – 15,000 hours. Future emission regulations may reduce their lifespan.
Electric Forklift: Typically lasts 15,000 to 20,000 hours. Lithium-ion batteries last the longest.
Verdict: Electric forklifts offer both longer lifespan and a higher resale value.
Make Long-term Savings With Greenpower Electric Forklifts
Opting for an electric forklift over a diesel model is a smart investment that delivers long-term cost savings. While the electric forklift price may be higher upfront, the reduced fuel costs and lower maintenance expenses make them the better choice over time.
With Greenpower’s advanced lithium-ion technology, you eliminate costly diesel refueling and frequent engine servicing. The result? Forklift cost savings year after year.
Contact us today to find the right forklift for your needs and begin saving.
