370Z | Jotup

We Predict Deepview True Cost: After Higher First Year Costs, EV Service Costs Fall 30% Below Gas Vehicle Costs at Three Years

Retrieved on:

Thursday, October 28, 2021

Technology, Other Automotive, Tires & Rubber, Utilities, Performance & Special Interest, Off-Road Trucks & SUVs, Alternative Energy, Energy, Fleet Management, Aftermarket, Automotive, Other Consumer, Alternative Vehicles, Fuels, Other Transport, Trucking, Men, Family, Transport, Other Technology, Consumer, General Automotive, Automotive Manufacturing, Manufacturing, RDX, Nissan, Diagnosis, Chrysler, Clarity, MPV, Course Correction, Kia Sportage, MKX, Ram pickup, Insurance, Stellantis, Dodge Caravan, North America, 370Z, Honda, Chevrolet, Machine learning, Lincoln, Nissan NV, SOS, EVS, EV, Ford Motor Company, MX5, Mark (given name), Maintenance, Kia Forte, SUV, Dodge, Light, Infiniti, Nissan Armada, Multimedia, Corvette, Nissan Frontier, Cadillac CT6, Kia Optima, Challenger, 300, Ownership, GM, Hyundai, Mazda, Mcgee v. General Motors Corp., Airline, Propane, Road, Health insurance, Gasoline, Motor vehicle

While EV service costs are higher than their gas counterparts early in ownership, the cumulative service costs for EVs fall over time to 30% less than gas vehicles at three years on the road primarily due to lower maintenance costs.

Key Points:

While EV service costs are higher than their gas counterparts early in ownership, the cumulative service costs for EVs fall over time to 30% less than gas vehicles at three years on the road primarily due to lower maintenance costs.
At three months in service, EVs average service costs of $123; gas vehicles average $53.
(EVs are 132% more)
At 1 year in service, EVs average $306 in service costs per vehicle; gas vehicles average $189.
Deepview True Cost SOS reveals service costs for 2018-model-year vehicles average $731 in the first three years of service.