The deployment of hydrogen technologies in the energy mix and the use of hydrogen fuel cell vehicles (FCV) are expected to significantly reduce European greenhouse emissions. We carry out a social cost-benefit analysis to estimate the period of socio-economic conversion, period for which the replacement of gasoline internal combustion engine vehicles (ICEV) by FCV becomes socio-economically profitable. In this study, we considered a hydrogen production mix of five technologies: natural gas reforming processes with or without carbon capture and storage, electrolysis, biogas processes and on-site production. We estimate two external costs: the abatement cost of CO2 through FCV and the use of non-renewable resources in the manufacture of fuel cells by measuring platinum depletion. We forecast that carbon market could finance approximately 10% of the deployment cost of hydrogen-based transport and that an early economic conversion could be targeted for FCV. Almost ten years could be saved by considering externalities. (C) 2016 Hydrogen Energy Publications LLC. Published by Elsevier Ltd. All rights reserved.