What determines the total cost of a forklift truck over a 5-year period?
Anyone buying a new forklift truck often looks first at the purchase price. That makes sense. But that price doesn’t tell the whole story. The true cost of a forklift truck only becomes clear when you look beyond the initial investment alone.
The total cost over 5 years – also known as the Total Cost of Ownership (TCO) – encompasses much more than what is stated on the quotation. Fuel, maintenance, downtime, energy consumption and residual value all play a part.
Anyone looking at the full picture will quickly realise that an electric forklift with lithium-ion technology is often the most cost-effective choice in the long term.
We’ve listed the key factors below.
Purchase price vs. running costs
At first glance, a diesel or LPG forklift truck may sometimes appear cheaper to buy than an electric forklift truck. However, over a five-year period, that picture changes.
The total cost of a forklift truck consists of:
Energy or fuel costs
Maintenance and repairs
Wear and tear on parts
Downtime and loss of productivity
Residual value on resale
It is primarily these recurring costs that make the difference in the long term.
Fuel or electricity: a big difference
A forklift truck that operates daily consumes a considerable amount of energy.
With diesel or LPG, these costs mount up quickly, especially with intensive use or multiple shifts per day. Electric forklift trucks, on the other hand, can be charged at a fraction of the cost of fuel.
More and more companies are therefore consciously switching to electric models because of the lower running costs and more stable planning.
👉 Read more about: Electric forklift trucks on the rise: why companies are making the switch
Furthermore:
✅ No price fluctuations as with fossil fuels
✅ No refuelling logistics
✅ Option to top up without loss of capacity
For businesses with a high number of operating hours per year, the difference in energy costs can amount to thousands of euros over several years..
Maintenance: fewer moving parts, lower costs
A conventional internal combustion engine contains many moving parts: filters, oil, belts, clutches, exhaust systems …
An electric forklift with a lithium-ion battery operates more simply and efficiently:
No oil changes (only periodic checks of hydraulic oil)
No fuel filters
No exhaust maintenance
Fewer parts prone to wear
This means fewer maintenance interventions and fewer unexpected costs.
Furthermore, lithium-ion batteries are completely maintenance-free. No need to top up water, no battery replacements, no separate ventilation space required.
Lithium-ion has therefore become the standard in modern warehouses and plays a central role in the evolution of internal transport.
👉 Read more about: The key trends in internal transport for 2026
Downtime: the hidden cost
The biggest cost associated with a forklift truck is often not on paper.
When a machine breaks down:
Are staff at a standstill?
Are deliveries being delayed?
Might a hire truck need to be used?
These indirect costs can quickly exceed the cost of a maintenance bill.
Electric forklift trucks with lithium-ion technology require less maintenance and can be recharged during operation. This significantly reduces the risk of unplanned downtime and increases operational reliability.
Residual value and service life
Technology also plays a role when it comes to resale.
Demand for electric forklift trucks is rising year on year. This ensures a stable residual value on the second-hand market.
Furthermore, lithium-ion batteries have a long service life and retain their performance better than traditional lead-acid batteries. This makes the total cost over five years even more favourable.
An investment that looks beyond today
You don’t buy a forklift truck for just one year, but for the long term. By looking beyond the purchase price and taking into account energy, maintenance, downtime and residual value, you are making a well-considered investment.
Hangcha offers a wide range of electric forklift trucks with lithium-ion technology, developed for intensive and professional use. They combine performance, reliability and low running costs in a single solution.
In Belgium, distribution and service are handled by Joris van Dijck, the official importer and service partner.
👉 Would you like to know what a forklift truck will really cost in your situation over five years? Contact us for a tailored analysis or discover the Hangcha range.