Not to forget greater depreciation. So for those who drive relatively little the ICE card might still have lower total cost of ownership. Not to forget time comparison on fuelling versus charging.
I would bet that this is different for cars made in the last 3-4 years. More and more stats from the automobile clubs are rolling in that show that electric vehicles last much longer, because they have less moving parts, and that batteries last much longer than expected.
So as of today, I’d certainly buy electric if I was worried about depreciation.
Are they? An equivalent model don't seem to be significantly more new, and you can now get some great deals on secondhand EVs.
I'm in the UK and have now gone completely electric - motorbike (Zero SRF), car (wife's Model 3) and van (ID Buzz). To be honest though, that was mostly because I like EVs - yes, even the motorbike. The fuel costs are just a bonus.
"Cheaper to run" if you only count the cost of fuel versus the cost of electricity, and only if you can charge at home.
It currently costs 85p/kWh to charge an EV near where I live if you can't charge at home, and 95p/litre for gas (my car is dual fuel).
Then you've got the vastly more expensive insurance for EVs.
Then you've got the cost of paying for an EV.
Then you've got to find an EV that directly replaces the existing vehicle. There are currently no EVs on the market that can tow heavy trailers off road, which is the main reason I have a biggish 4x4.
Headline is misleading. Cheaper on per-mile operating costs but typically more expensive to purchase and insure. It still typically ends up a bit cheaper across comparable vehicles but nowhere near as good as the headline suggests.
Hopefully the article authors are only attempting to reach their target audience, but please don't encourage numerical illiteracy!
One-tenth the (fuel) cost, or 90% cheaper.
(That is, if you own a house with off-street parking).
Electric cars (Tesla+) are much more expensive than gasoline cars to purchase initially.
Not to forget greater depreciation. So for those who drive relatively little the ICE card might still have lower total cost of ownership. Not to forget time comparison on fuelling versus charging.
I would bet that this is different for cars made in the last 3-4 years. More and more stats from the automobile clubs are rolling in that show that electric vehicles last much longer, because they have less moving parts, and that batteries last much longer than expected.
So as of today, I’d certainly buy electric if I was worried about depreciation.
Are they? An equivalent model don't seem to be significantly more new, and you can now get some great deals on secondhand EVs.
I'm in the UK and have now gone completely electric - motorbike (Zero SRF), car (wife's Model 3) and van (ID Buzz). To be honest though, that was mostly because I like EVs - yes, even the motorbike. The fuel costs are just a bonus.
"Cheaper to run" if you only count the cost of fuel versus the cost of electricity, and only if you can charge at home.
It currently costs 85p/kWh to charge an EV near where I live if you can't charge at home, and 95p/litre for gas (my car is dual fuel).
Then you've got the vastly more expensive insurance for EVs.
Then you've got the cost of paying for an EV.
Then you've got to find an EV that directly replaces the existing vehicle. There are currently no EVs on the market that can tow heavy trailers off road, which is the main reason I have a biggish 4x4.
Headline is misleading. Cheaper on per-mile operating costs but typically more expensive to purchase and insure. It still typically ends up a bit cheaper across comparable vehicles but nowhere near as good as the headline suggests.