Electric Cars Fast Becoming the Cheaper Option, says NYC
Electric vehicles are set to overtake their internal combustion brethren, according to new reports.
Recent releases of new electric vehicles or EV’s like Kia’s 145 electric soul and Tesla’s Model 3 have seen the price of EV’s drop below the average price of internal combustion automobiles in the US; the equation is compounded when you factor in the reduced maintenance costs with EVs.
With global concern for the environment rising, cheaper-than-average electric cars are now flooding the market; EVs are fast becoming the new everyday personal transport, according to reports.
A recent 2019 study conducted by the International Council for Clean Transportation (ICCT) reviewed the lifetime costs of electric cars, in comparison with its diesel counterparts. The study found that EV owners saved between 5-27% annually on maintaining and servicing their vehicle.
This is strengthened by data released by NYC Transport Authority, which detailed their analysis of fuel and maintenance costs for its 9,000 light passenger fleet. This revealed that maintenance costs of their EV’s were less than $500 on average, while the cost of their internal combustion models ranged between $950-2000 per vehicle; the numbers are certainly shocking.
“Servicing costs with all-electric vehicle models was less than for gas, hybrid and plug-in models”- according to Quartz
America may re-urbanize, but its basic land use patterns will always require personal transport.
After years of promising electric cars, established carmakers are actually starting to build them. However, these manufacturers are realizing that a shift to battery power also requires them to retool their sales machinery. The old come-ons are obsolete. Range is the new horsepower. Connectivity replaces cylinder count. And sustainability is the new status symbol.”
"Electric cars look better from that angle because they don’t require oil changes and electricity is cheaper per mile than gasoline.”
Manufacturers are targeting young people who have grown up in an ever-changing world based on advanced information technology. These cars are loaded with driver-friendly electronics.