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“The average cost of gassing up a car is $1,120 a year. The annual cost to operate an electric vehicle is about $485 per year, although having a home charger can lower that figure. The average ...
Using this math, the average car with a 360-mile range would cost about $36.38 to fill up, which is still a bit higher than the average electric vehicle charge cost. Final Take
The cars that have the lowest cost of ownership typically get good gas mileage, have low maintenance costs and are proven to be reliable, based on customer and industry reviews.
In the EU and US, but not yet China, the total cost of ownership of recent electric cars is cheaper than that of equivalent gasoline cars, due to lower fueling and maintenance costs. [ 16 ] [ 17 ] [ 62 ] A 2024 Consumer Reports analysis of 29 car brands found Tesla was the least expensive to maintain over a 10-year period; Tesla was the only ...
Total cost of ownership of electric cars is often less than petrol or diesel cars. [69] In 2024 Gartner predicted that by 2027, next-generation BEVs will, on average, be cheaper to produce than a comparable ICE“. [70] In China, BEV are now cheaper than comparable combustion cars. [71] The development is driven by subsidies in the Chinese market.
Another problem is the cost of materials that need to be added to the battery to avoid power dropping. Aluminium is still very cheap compared to other elements used to build batteries. Aluminium costs $2.51 per kilogram while lithium and nickel cost $12.59 and $17.12 per kilogram respectively.
Here are the three biggest costs of car ownership, according to Bureau of Labor Statistics data: Vehicle purchases (net outlay): $5,539 (46% of overall cost) Gas, other fuels, and motor oil ...
In 2010, car crashes in the United States resulted in 32,999 deaths and a projected $871 billion cost to society, around 6% of the United States 2010 GDP. [7] Road traffic collisions cause social costs including material damages, administrative costs, medical costs, production losses and immaterial costs.