A recent report from iSeeCars.com shows the difference in cost between electric and internal combustion vehicle ownership, reports CBT News.
Three-year-old, gasoline-powered vehicles are driven 12,813 miles per year on average, while EVs see an average of 10,256 miles each year, representing a 20% difference. In comparison, standard hybrids drive 12,471 miles each year, and plug-in hybrids drive 12,199 miles.
While EVs are the most expensive option due to factors such as high upfront costs and lower annual mileage, hybrid vehicles cost less than ICE vehicles and are driven nearly as much as them.
In spite of lower cost to purchase them, plug-in hybrids cost 39.4% more per 1,000 miles than ICE vehicles. When looking to EVs, ICE vehicles cost 64.6% less per 1,000 miles than their electric counterparts.
As it sits now, the most affordable alternative fuel car to maintain is the Honda Insight Hybrid, followed by hybrid Hyundai Ioniq and the Toyota Corolla. While the Insight and Ioniq were discontinued after the 2022 model year, they’re still easily accessible for those car shopping. Vehicles like the Mitsubishi Mirage, Hyundai Accent, Nissan Versa, and Chevrolet Spark still reign supreme in affordability, though.
“These low-cost models are still available for buyers seeking the least expensive personal transit, except for the Spark, which is no longer in production,” noted Karl Brauer, executive analyst for iSeecars.com.
