When it comes to electric vs. gas-powered vehicles, a new iSeeCars study finds that electric models are driven the least while costing the most. Researchers looked into the which hybrids and electrics were the most expensive based on 1,000 miles driven per year.
Here's are the highlights of the study:
- Electric cars are driven 20 percent less than gasoline cars, but their higher prices mean they cost 63.6 percent more for every 1,000 miles driven per year
- Hybrids and plug-in hybrids are also driven less than gasoline models, but only by 2.7 and 4.8 percent, respectively, making their cost-per-1,000 miles per year much closer
- The average electric car costs $5,108 for every 1,000 miles per year it’s driven compared to $3,056 for a hybrid car, $3,123 for a gasoline car, and $4,351 for a plug-in hybrid
- The Porsche Taycan EV is the most expensive alternative-fuel car to drive, costing over $22,000 for every 1,000 miles it’s driven per year, followed by the Porsche Cayenne plug-in hybrid at $14,681 and the Tesla Model S at $11,623
- The Honda Insight Hybrid is the least expensive alternative fuel car to drive, costing $1,463 per 1,000 miles per year, followed by the Hyundai IONIQ Hybrid at $1,813 and Toyota Corolla Hybrid at $1,857
iSeeCars says that when comparing how people use gasoline, hybrid, and electric vehicles, 3-year-old gas cars are driven 12,813 miles a year while EVs are driven 20 percent less, or 10,256 miles. Plug-in hybrids are driven 12,199 miles, or 4.8 percent less than gasoline cars, while standard hybrids are driven 12,471 miles, or 2.7 percent less than gasoline models.
“Range anxiety and charging infrastructure are top-of-mind for EV drivers, and those factors likely limit how far owners will drive them,” said Karl Brauer, iSeeCars Executive Analyst. “Hybrids and plug-in hybrids, where all-electric battery range is limited but range anxiety isn’t a factor, are driven only slightly less than gasoline cars, as reflected in their similar yearly mileage.”
Hybrids Are the Most Cost-Effective Vehicles, Even Better than Gasoline Cars
While EVs are the most expensive drivetrain for their annual mileage, hybrids are the least expensive – even cheaper than traditional gasoline models. Researchers say this is because hybrid owners use their cars at almost the same rate as gasoline cars, while their average price is slightly lower than gasoline models.
“Hybrids have become increasingly popular with consumers in recent years,” said Brauer. “And now many mainstream models, including the newest Toyota Camry, are only sold as a hybrid. This technology is set to become the dominant drivetrain throughout the industry.”
To see the entire article, including rankings of the cars in this comprehensive study, click here.
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