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September 15, 2023 by Adam Malik
Image credit: Depositphotos.com
A recent report throws into question the belief that all electric vehicles are cheaper to gas up than internal combustion engine ones.
The Anderson Economic Group found that cheaper EVs are more expensive to fuel than cheaper ICE vehicles. But as you go up the ladder in price, the gap narrows and then the flips.
The findings are part of the group’s fueling cost estimates for comparable ICE vehicles and EVs in the first half of 2023. It looked at gasoline and residential electricity prices, commercial charging prices, tax rates levied on fuel and EVs, fuel economy for popular models in each segment and the allowance for travel to commercial charging stations. It also considered four categories of real-world costs for both ICE and EVs, including energy, taxes, pump or charger and deadhead miles.
In all cases for EVs, costs were higher when depending on public chargers compared to home charging.
“These results underline the importance of considering real-world costs before making a buying decision,” the group commented. “These include knowing how often you travel away from home, your ability to install and rely upon a home charger, the costs and availability of commercial charging, and any road taxes levied on EV drivers in your [area].”
In the entry-level segment of cars and crossovers, ICE vehicles were the most economical to fuel, costing about $9.78 (all figures in USD) per 100 purposeful miles. That’s compared to $12.55 for entry priced EVs charged mostly at home and well under the $15.97 cost when charged mostly at commercial charging stations.
The gap closes a bit in the mid-priced segment. ICE vehicles are also still more affordable to fuel but as their costs go up about 13 per cent to approximately $11.08 per 100 miles, home EV charging costs minimally increase half a per cent to $12.62. Commercial charging, however, also sees an increase, but less dramatic than ICE to $16.10.
It’s in the luxury-priced segment of cars and crossovers where EVs charged at home made the most economical sense. Owners of high-end EVs paid $13.50 per 100 miles — ICE drivers paid $17.56 to fuel their comparable vehicles. The group noted that the price of premium required gas to fuel these vehicles was a factor. But charging commercially still costs EV drivers more at $17.81.
When it comes to pickup trucks, diesel-powered options win the day with fuelling costs of $17.10 per 100 miles. Those powered by gasoline cost about $17.58 to fuel, while EV trucks charged mostly at home cost $17.72. Charging commercially hits the wallet harder as drivers found themselves paying about $26.38 — more than $9 higher than their diesel counterparts.
The group noted its surprise for EVs costing the same to charge as gas and diesel versions, but only when charged at home.
“For both businesses and those driving their own trucks, it is important to consider expected demands for travel to job sites, hauling, and extended road trips,” it said. “These are likely to require regular commercial charging that can be expensive and time consuming.”
Comparison examples in the entry-priced segment include the Nissan Versa and Honda Civic in the ICE category, and the Nissan Leaf and Chevy Bolt EVs, In the mid-priced segment, ICE vehicles included the Honda Accord and Chevrolet Malibu while EVs included the Hyundai Ioniq 5 and Tesla Model 3.
In the luxury segment, ICE vehicles included the BMW 5 series and Audi A6, while EVs included the Tesla Model X and Polestar 2. For pickups, the group compared the Ford F-150 Series, Toyota Tacoma and other trucks with EV counterparts that included the Ford F-150 Lightning and the Rivian R1T.
Some ICE cars cheaper to run than EVs: Report
Image credit: Depositphotos.com
A recent report throws into question the belief that all electric vehicles are cheaper to gas up than internal combustion engine ones.
The Anderson Economic Group found that cheaper EVs are more expensive to fuel than cheaper ICE vehicles. But as you go up the ladder in price, the gap narrows and then the flips.
The findings are part of the group’s fueling cost estimates for comparable ICE vehicles and EVs in the first half of 2023. It looked at gasoline and residential electricity prices, commercial charging prices, tax rates levied on fuel and EVs, fuel economy for popular models in each segment and the allowance for travel to commercial charging stations. It also considered four categories of real-world costs for both ICE and EVs, including energy, taxes, pump or charger and deadhead miles.
In all cases for EVs, costs were higher when depending on public chargers compared to home charging.
“These results underline the importance of considering real-world costs before making a buying decision,” the group commented. “These include knowing how often you travel away from home, your ability to install and rely upon a home charger, the costs and availability of commercial charging, and any road taxes levied on EV drivers in your [area].”
In the entry-level segment of cars and crossovers, ICE vehicles were the most economical to fuel, costing about $9.78 (all figures in USD) per 100 purposeful miles. That’s compared to $12.55 for entry priced EVs charged mostly at home and well under the $15.97 cost when charged mostly at commercial charging stations.
The gap closes a bit in the mid-priced segment. ICE vehicles are also still more affordable to fuel but as their costs go up about 13 per cent to approximately $11.08 per 100 miles, home EV charging costs minimally increase half a per cent to $12.62. Commercial charging, however, also sees an increase, but less dramatic than ICE to $16.10.
It’s in the luxury-priced segment of cars and crossovers where EVs charged at home made the most economical sense. Owners of high-end EVs paid $13.50 per 100 miles — ICE drivers paid $17.56 to fuel their comparable vehicles. The group noted that the price of premium required gas to fuel these vehicles was a factor. But charging commercially still costs EV drivers more at $17.81.
When it comes to pickup trucks, diesel-powered options win the day with fuelling costs of $17.10 per 100 miles. Those powered by gasoline cost about $17.58 to fuel, while EV trucks charged mostly at home cost $17.72. Charging commercially hits the wallet harder as drivers found themselves paying about $26.38 — more than $9 higher than their diesel counterparts.
The group noted its surprise for EVs costing the same to charge as gas and diesel versions, but only when charged at home.
“For both businesses and those driving their own trucks, it is important to consider expected demands for travel to job sites, hauling, and extended road trips,” it said. “These are likely to require regular commercial charging that can be expensive and time consuming.”
Comparison examples in the entry-priced segment include the Nissan Versa and Honda Civic in the ICE category, and the Nissan Leaf and Chevy Bolt EVs, In the mid-priced segment, ICE vehicles included the Honda Accord and Chevrolet Malibu while EVs included the Hyundai Ioniq 5 and Tesla Model 3.
In the luxury segment, ICE vehicles included the BMW 5 series and Audi A6, while EVs included the Tesla Model X and Polestar 2. For pickups, the group compared the Ford F-150 Series, Toyota Tacoma and other trucks with EV counterparts that included the Ford F-150 Lightning and the Rivian R1T.
