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The Most Recent EV Cost Of Ownership Analyses Are Very Appealing [Video]

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The time has come in which electric vehicle buyers should work in the cost of ownership into their financial planning.

Vincentric provides the automotive industry with cost of ownership data. Its Electric Vehicle (EV) Cost of Ownership Analysis for 2024 found that 20 of 41 (49%) EVs studied had a lower total cost of ownership over 5 years than their internal combustion engine (ICE) counterparts. The study analyzed 8 cost factors that comprise an EV cost of ownership: depreciation, fees & taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs.

As expected, the biggest strengths of EVs were their fuel and maintenance costs. All 41 EVs had lower fuel costs than their gasoline alternatives, while 37 of 41 EVs had lower maintenance costs than their ICE alternatives.

The biggest disadvantage of EVs continues to be depreciation, largely due to the higher purchase price …

FAQs About GiveTaxFree Answered! PART III
FAQs About GiveTaxFree Answered! PART III
givetaxfree.org