Purchase price: close to even if your EV choice is eligible for the $7500 credit.
Fueling: EV wins easily. 1/3 of IC fueling cost.
Maintenance: again EV wins 1/2 of an IC. However an accident will cost more to repair. Make sure you have the proper insurance coverage.
The article did not mention whether it included extra tire purchases. EVs do wear out tire faster. But how much faster?
Insurance:an EV costs 25% more than an IC
Depreciation: EVs lose again. a new Model Y depreciates by about 59% after five years. By comparison, a Toyota RAV4 only loses about 31% of its value after five years.
I suspect that most of that is due to the $7500 credit and other state rebate programs. As the industry matures and these go away I think we’d see parity on this…it really has nothing to do with being an EV vs ICE.
No doubt. My point is that the last decade has been out of the ordinary in having had Covid and that EVs, being in the early stage of adoption, do not yet generate meaningful numbers. The data on ICE is much more reliable at this point.
My 5 yo Tesla has depreciated about 44% from price net of the tax credit, about 54% from gross price. Just about the same as any 5 yo mid-class car.
“Fuel” & maintenance stats accurate. I’ve had to replace the original tires and get them rotated about 6 times.